ReutersSears Holdings Corp is planning to close up to 150 of its department and discount stores and keep at least another 300 open as part of a plan to restructure under US bankruptcy protection, people familiar with the matter said on Friday. The plans, which remained in flux on Friday afternoon, would leave the fate of Sears’ remaining about 250 stores uncertain, the sources said. The future of the stores could hinge on Sears’ negotiations with landlords over their leases. Reuters on Thursday first reported that Lampert was exploring bidding for some Sears assets. A key unresolved aspect of Sears’ negotiations with lenders involves setting deadlines for the company to achieve specific business goals while under bankruptcy protections, the sources said.

Source: Taipei Times October 13, 2018 15:56 UTC