Sears Executive Summary

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Sears Holding who is the parent company of Sears and Kmart. Sears is a retail store focused on connecting the digital and physical shopping experiences to serve customers anywhere and anytime they wish to shop.
Sears had decided to integrate retail strategy where they plan on redeploying and reconfiguring their assets. Sears plans to market and sell a portion of their existing real estate assets. Sears also expected to close the sale of Craftsman brand, liquidity, and ability to exercise financial flexibility as they meet their obligations and pursue possible strategic transactions.
Sears will implement a strategic restructuring program to streamline operations, improve operating performance and target cost reduction of at least $1 Billion
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This plan is believed to reduce overall cash funding requirements and ensure that Sears becomes more agile and competitive retailer with a clear path toward profitability.
By implementing the restructuring program, Sears Holdings announced the closing of 150 Sears and Kmart stores and to simplify its organizational structure Sears will:
- consolidate of Sears and Kmart corporate and support functions, and improve accountability for profitability at stores and online channels. - implement an integrated application to reduce pricing, sourcing, and inventory
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Per, “As of January 2017 Sears has obtained an additional $179 million of loan proceeds, which fully utilizes the $500 million Senior Secured Loan Facility entered into on January 4, 2017; closed a $72.5 million real estate sale on January 26, 2017 for five Sears Full-line stores and two Sears Auto Centers; initiated the closing process of the 150 stores announced during our fourth quarter 2016 with the expectation to complete the closures of all 150 stores during the first quarter of 2017; engaged Eastdil Secured to market and sell at least $1.0 billion of certain real estate properties under the direction of a committee of the Board of Directors; and Announced the Craftsman® transaction for $775 million in cash plus participation in the externalization of the Craftsman® brand by Stanley Black&
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