Sears Seeks Options for Hardware Unit
Hoffman Estates, Ill., Sears Holding Corp. today said it may sell or spin off its Orchard Supply Hardware unit, which operates a chain of 82 hardware and garden retail stores in California. Vice chairman and CEO Alan J. Lacy said that Sears Holdings was pursuing the option as it looks to focus attention on the core business created by the Sears-Kmart merger.
Citigroup Global Markets Inc. and Lehman Bros. are acting as financial advisers to Sears.