Sears to Spin Off Lands’ End Business
December 06, 2013
Sears Holdings Corp. will spin off its Lands’ End business, according to wwd.com. Lands’ End Inc. has filed a registration statement with the Securities and Exchange Commission to become a public company. Lands’ End previously was a publicly traded company prior to its acquisition by Sear, Roebuck & Co., which was later picked up by ESL Investments, becoming a merged entity that was renamed Sears Holdings. Sears has been trying to sell the division for about a year. The spin-off transaction, which would be accomplished though a pro rata distribution of all of the shares of Lands’ End stock, is still subject to the approval of the board of Sears Holdings.