Case Background

Sears Holdings Corporation and certain of its subsidiaries (collectively, the "Company") have filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York.  The Company intends to use this process to position it to establish a sustainable capital structure, continue streamlining its operating model and grow profitably for the long term.

The Company expects to move through the restructuring process as expeditiously as possible and is committed to pursuing a plan of reorganization in the very near term as it continues negotiations with major stakeholders started prior to the announcement.

The cases are pending before the Honorable Robert D. Drain, and are jointly administered under Case No. 18-23538.

Sears Holdings Corporation is a leading integrated retailer focused on seamlessly connecting the digital and physical shopping experiences to serve its members.  The Company operates through its subsidiaries, including Sears, Roebuck and Co. and Kmart Corporation, with full-line and specialty retail stores across the United States.  Sears Holdings is also home to Shop Your Way®, a social shopping platform offering members rewards for shopping at Sears and Kmart as well as with other retail partners. For more information, visit www.searsholdings.com.

For additional information about the restructuring process, please visit Sears Holdings’ restructuring website at: restructuring.searsholdings.com.

Important Information & Dates

Sale of Sears Home Improvement Business ("SHIP Sale")

On November 16, 2018, the Court entered the Order Approving Bidding Procedures for Sale of Sears Home Improvement Business, (B) Approving Stalking Horse Bid Protections, (C) Scheduling Auction for and Hearing to Approve Sale of Sears Home Improvement Business, (D) Approving Form and Manner of Notice of Sale, Auction, and Sale Hearing, (E) Approving Assumption and Assignment Procedures, (II) Approving the Sale of Sears Home Improvement Business in Accordance with the Stalking Horse Agreement and (III) Granting Related Relief  [Docket No. 775] (the “SHIP Bidding Procedures Order”).

Important Dates and Deadlines Related to the SHIP Sale:

• Bid Deadline: December 11, 2018 at 4:00 p.m. (ET)
• Sale Objection Deadline: December 11, 2018 at 4:00 p.m. (ET)
• Auction: December 13, 2018 at 10:00 a.m. (ET) at the offices of Weil, Gotshal & Manges
• Notice of Auction Results Objection Deadline: December 17, 2018 at 12:00 Noon (ET)
• Sale Hearing: December 18, 2018 at 10:00 a.m. (ET)

Any party interested in submitting a bid for any of the Debtors' Assets should contact the Debtors' investment banker, Lazard Frères & Co., LLC, 30 Rockefeller Plaza, New York, New York 10112 (Attn: Brandon Aebersold (brandon.aebersold@lazard.com) and Levi Quaintance (levi.quaintance@lazard.com)).

Please click below to view and download documents related to the SHIP Sale:

Notice of SHIP Sale

SHIP Sale Documents

Real Estate Sale Process

Jones Lang LaSalle Americas, Inc. (“JLL”) has been engaged by the Company to, among other things, advise the Company’s potential sales of certain of its owned and leased property and/or other real property assets (the “Real Estate Sale Process”). A non-binding indication of interest (an “Indicative Bid”) in connection with the Real Estate Sale Process is due December 28, 2018, at 5:00 p.m. (ET), and should be submitted via email to:

Donna Kolius
Executive Vice President
JLL, Disposition Services
1400 Post Oak Boulevard, Suite 1100
Houston, Texas 77056
Tel: 844-280-3247
Email: dispositionservices@am.jll.com

Please click below to view and download the Real Estate Sale Process Letter:

Real Estate Sale Process

All submitted Indicative Bids must comply with the requirements as set forth in the Real Estate Sale Process Letter. Should you be selected to participate in the Definitive Bid process, you will be provided with a form of purchase agreement. If you have executed or will execute a confidentiality agreement with the Company, its terms apply to the process as outlined in the Real Estate Sale Process Letter.

Hearing on First Day Motions

A hearing on the Company's First Day Motions was held on October 15 at 2:00 p.m. (ET) before the Honorable Judge Robert D. Drain, United States Bankruptcy Court for the Southern District of New York, 300 Quarropas Street, White Plains, NY 10601.

A final hearing on certain of the First Day Motions was held on November 15, 2018 at 10:00 a.m. (ET).

Please click below to view and download the First Day Motions and the First Day Orders:

First Day Motions

First Day Orders