Sears to Spin Off Lands End
HOFFMAN ESTATES, Ill.-Sears Holdings said it has filed a registration statement with the U.S. Securities and Exchange Commission for the spinoff of its Lands' End business.
In company statement, Sears Holdings said it would spin Lands' End off through the pro rata distribution of all of the share of the business' common stock. The spinoff will be subject to the approval of the Sears Holdings board and the satisfaction of certain other, unspecified, conditions. The company also said it may decide to abandon the spinoff or change the spinoff's terms at any time until it is completed.
Sears Holdings had announced late in October that it was evaluating spinoffs of both Lands' End and Sears Auto Centers, along with the closing of unprofitable stores.