Eddie Lampert, former CEO of Sears.
Source: Sears Holdings
Heritage growth attributeA real estate investment fund that spun off the defunct Sears department store chain in 2015, said on Tuesday it was exploring strategic alternatives to its business. .
The company also announced that former Sears CEO Eddie Lampert, who served as Seritage’s chairman of the board, is retiring, effective immediately.
Lampert said in a statement that he wants more flexibility to explore alternatives to his investment in Seritage, which could include engaging with parties that may be interested in buying. certain assets from the company.
Seritage President and CEO Andrea Olshan added in a statement that the real estate company’s board believes there is an ongoing disconnect between the company’s stock price and the value of its shares. net asset value.
Seritage stock has recently gained less than 2% in pre-market trading. As of now, the stock is down 23% year-over-year, bringing its market capitalization to $444.6 million.
Find the full press release this.
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