K-Mart Will Sell 54 Stores To Sears

By: Import User

Updated: January 7, 2009

K-Mart intends to sell up to 54 of its stores to Sears, Roebuck and Company for as much as 621 mllion dollars. Also, Sears says it will purchase seven Wal-Mart Stores locations, continuing to signal its move away from malls. The announcement comes less than a month after K-Mart said it would sell up to 24 stores to The Home Depot. The location of the stores to be sold has not yet been determined. K-Mart says it will continue to operate the converted stores until March or April 2005.

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