Sears Looks To Sell Package Of Stores, Leases For $62M

Law360 (November 30, 2018, 9:36 PM EST) -- Sears Holding Corp. has asked a New York bankruptcy court for permission to sell 13 Kmart and Sears locations for $62 million to a real estate buyer for U-Haul International, saying the stores are not essential to its future operations.

In a motion filed Thursday, Sears asked the court for permission to sell the 12 Kmart locations and one Sears location, along with six associated leases, to Phoenix, Ariz.-based Amerco Real Estate Co., saying it had been attempting to sell the properties for months before entering Chapter 11.

"The debtors believe that the contemplated sale of the acquired assets on the...

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