Hoffman Estates, Ill. — On October 15, 2018, Sears Holdings Corporation and certain of its subsidiaries have filed voluntary petitions for Chapter 11 bankruptcy relief. Effective immediately, the company’s chairman and CEO, Edward S. Lampert, is stepping down from the CEO role. Also, the company will close 142 stores in addition to the previously announced 46 store closings.
Sears Holdings Corporation
Hoffman Estates, Ill. — Sears Holdings Corporation has been named a 2018 ENERGY STAR® Partner of the Year – Sustained Excellence Award winner for continued leadership in protecting the environment through superior energy efficiency achievements. In addition, the Kenmore brand has been named a 2018 ENERGY STAR® Partner of the Year – Product Brand Owner. According to the EPA, it marks the first time a company has won all three awards: Retailer, Energy Management and Brand Owner.
Hoffman Estates, Ill. — Sears Holdings has been named a 2017 ENERGY STAR Partner of the Year – Sustained Excellence Award winner for continued leadership in protecting the environment through energy efficiency. Sears’ accomplishments will be recognized by the U.S. Environmental Protection Agency and the U.S. Department of Energy in Washington, D.C., on April 26, 2017.
Hoffman Estates, Ill. — Steven T. Mnuchin has informed Sears Holdings Corporation that he has decided to step down from the company’s board of directors, effective immediately. President-elect Donald J. Trump recently announced his intent to nominate Mnuchin as Secretary of the United States Department of Treasury.
Hoffman Estates, Ill. — Sears Holdings has promoted Jason Hollar to chief financial officer, effective immediately. The company previously announced in May that Robert A. Schriesheim would be leaving Sears to focus on his other business interests and pursue other career opportunities.
Hoffman Estates, Ill. — Sears Holdings has hired former Gymboree COO Joelle Maher as president and chief member officer for the Sears format. In this role, Maher will be responsible for developing the Shop Your Way® member-centric business strategy for the Sears format, managing the Sears P&L and aligning merchandising, marketing, pricing and selling with the needs of its members.
Hoffman Estates, Ill. — Sears Holdings Corporation and General Growth Properties, Inc. (GGP) have entered into a real estate joint venture (JV) under which Sears Holdings has contributed 12 Sears Holdings properties located at GGP malls, involving both existing Sears Holdings stores and certain property leased to third parties occupying former Sears Holdings stores.
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