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Sears Holdings Corp.
Sears stock up on plan to sell its buildings, lease them back via REIT
Sears stock up on plan to sell its buildings, lease them back via REIT

Sears Holdings' stock soared Friday after the struggling retailer said it's considering selling about 200 to 300 of its buildings to boost its liquidity. The move would entail the company forming a real estate investment trust, or REIT, that would hold the stores. Sears would continue to operate the stores by leasing them back. Sears said it would get "substantial proceeds" from the sale, and that shareholders would be given the option to buy shares of the REIT. Sears stock shot up $10.14, more than 31%, to close at $42.81. Sears Holdings Corp., which runs Sears and Kmart stores, has been slashing costs and looking to raise cash to return to profitability. The company,...

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