Sears Holdings Completes Separation of Lands’ End Business
April 08, 2014
Hoffman Estates, Ill.-based Sears Holdings Corp. has completed its spin-off of Lands’ End Inc. The specialty apparel company has now been separated from Sears Holdings. Sears Holdings received aggregate gross proceeds from the spin-off of $500 million, consisting of a cash dividend paid by Lands’ End prior to the spin-off to a subsidiary of Sears Holdings. Sears Holdings Corp. operates more than 2,400 full-line and specialty retail stores in the United States and Canada.