
Sears to sell stores through REIT formation
US department store group Sears Holdings Corp is to sell around 250 stores through the creation of a real estate investment trust, in a bid to raise US$2.5bn as part of its cost cutting efforts.

US department store group Sears Holdings Corp is to sell around 250 stores through the creation of a real estate investment trust, in a bid to raise US$2.5bn as part of its cost cutting efforts.