Sears Department store chain rumored to be sold to New York group

Operations to continue in the normal course; Sears members and customers will continue to have a seamless shopping experience
By: Jerry Stiller Promotions
 
MIAMI - Oct. 5, 2021 - PRLog -- A group headed by retail honcho Herbert L. Becker today announced that its affiliate, an unnamed, publicly traded company, is in the process of acquiring all remaining Sears stores in the United States. The acquisition of substantially all of the go-forward retail footprint and other assets and component businesses of Sears Department Stores on a going-concern basis.

The new Sears will include 47 Sears locations which are currently in operation, along with many of the prominent brands and operating businesses.

It is reported that Herbert L Becker, said, "The best possible outcome for the stores, its employees, suppliers and the customers will now be at hand. This great brand will once again become the backbone of retail for the American public. Too many years of decline and poor management will be wiped out with the stroke of a pen."

The new Sears moves forward from the checkered past will have a close relationship with Sears Mexico. Todd Ponder said, "By teaming up with Carlos Slim HelĂș, we will have a footprint which will go beyond the borders of USA. We want to be THE department store for all people."

It is further speculated that Mr. Carlos Slim HelĂș will be on the board of the new company as well as an investor in the acquisition.

The new Sears will be led by the management team that will include the Office of the Chief Executive of Sears Department Stores, consisting of Herbert L Becker, CEO, Todd Ponder Chief Financial Officer, Terry Marshall, Chief Operating Officer. The company is looking at locations in Houston, Texas, Orlando, Florida and Detroit, Michigan as possible locations for its new head office.

Contacts

NEWS MEDIA:

Barry Goldwater

Barry.A.Goldwater@gmail.com

(786) 386-3803

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Tags:Sears
Industry:Consumer
Location:Miami - Florida - United States
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