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16 Sears stores are being auctioned online

The department store chain has been unwinding its assets in hopes of raising liquidity and getting back to profitability. Published 8:56 AM ET Wed, 11 April 2018 Over a dozen Sears stores are up for auction online 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, Real Insight Marketplace’s website says. Sears has been unwinding assets in hopes of raising liquidity and getting back to profitability. At the beginning of the year, it announced plans to close more than 100 stores by April.

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