Sears Considers Kenmore Sale

Sears (Hoffman Estates, Ill.) announced that it is exploring the sale of its Kenmore appliance brand, among other company assets, to the hedge fund that is run by its Chief Executive Officer, Eddie Lampert.

The company tried unsuccessfully to sell the brand last year in an effort to raise cash, according to Retail Dive. Now, its board has formed a special committee to consider the asset sales to the hedge fund ESL Investment (Greenwich, Conn.), after the hedge fund submitted a letter last month indicating its interest in the brand.

The company is also exploring the sale of its home improvement products, home services and parts direct businessesto the hedge fund, as well.