Sears Announces Plans To Spin Off Lands' End Label

Law360, New York (December 6, 2013, 1:53 PM EST) -- Sears Holding Corp. will cut ties with its Lands’ End Inc. business through a share distribution of the brand’s common stock to Sears’ investors, as the company continues to refocus on its namesake stores and those operating under the Kmart banner, according to a Friday statement.

The retail holding company has been mulling the decision for several weeks, after announcing in late October that it was seriously considering strategic alternatives for not only the Lands’ End brand, but also Sears Auto Center. Friday’s announcement did not...
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