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Sears looking to close up to 150 stores - Reuters

  • Of Sears' (SHLD +21.8%) 700 stores, the company is planning to close as many as 150, and keep at least 300 open, with the fate of the other 250 yet to be decided, reports Reuters.
  • Negotiations with landlords will ultimately decide the store's fates.
  • The company could seek bankruptcy protection as soon as Sunday night, say sources.
  • Interested parties include: CBL & Associates (NYSE:CBL), PREIT (NYSE:PEI), Washington Prime (NYSE:WPG), Urban Edge (NYSE:UE), Brixmor (NYSE:BRX), and Kimco (NYSE:KIM).

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