Sears plans to raise more cash via rights offering

SHARE Sears plans to raise more cash via rights offering

Sears is looking to raise more cash, announcing that it is planning a rights offering that may raise up to $625 million. The company, which runs Kmart and its namesake stores, also said Monday that it struck a leasing deal with European fashion retailer Primark. Sears has been cutting costs, reducing inventory and selling assets to return to profitability. Its biggest albatross remains its stores, which critics say are outdated and shabby.

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