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16 Sears stores are being auctioned online

  • Apr 11, 2018
  • Marketplace In The News - CNBC

Cushman & Wakefield is teaming with RealINSIGHT Marketplace to sell the Sears stores online. Sixteen locations are up for grabs, and bids are due by May 1.

  • Sixteen locations are up for grabs, and bids are due by May 1.
  • The department store chain has been unwinding its assets in hopes of raising liquidity and getting back to profitability.

More than a dozen of Sears Holdings’ stores are being auctioned online. 

Commercial real estate services firm Cushman & Wakefield is teaming with Real Insight Marketplace, an online bidding platform, to help unwind some of the department store chain’s assets. 

The 16 properties, all under the Sears banner, are mostly attached to malls and located in suburban markets. Five are in Texas, four are in Missouri, three are in Indiana, three are in Ohio and one is in Michigan. 

The Wall Street Journal first reported Tuesday evening on the auctioning. A representative from Sears didn’t immediately respond to CNBC’s request for comment. 

According to Cushman & Wakefiled, roughly 200 investor groups have expressed interest in bidding on the properties, the Journal said. All bids are due by May 1, RealINSIGHT Marketplace’s website says.

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