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Sears begins exploring sale of Kenmore, other divisions

Sears begins exploring sale of Kenmore, other divisions

Sears is considering selling its popular Kenmore appliance brand and other divisions after the hedge fund run by CEO Edward Lampert expressed interest in buying them and breaking up the company.

Sears’ board is beginning a formal process to explore the sale of three pieces of the business Lampert’s ESL Investments expressed interest in acquiring: Kenmore, the home improvement business of the Sears Home Services Division, and the Parts Direct business of Sears Home Services, the retailer said Monday.

Sears’ shares rose more than 6.7 percent Monday to close at $3.65.

Hoffman Estates-based Sears Holdings Corp. has been exploring alternatives for those businesses — as...

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