Eddie Lampert continues to destroy the once-great retailer Sears piece by piece. Yesterday, the company revealed that it has sold the DieHard battery brand to Advance Auto Parts for $200m in cash:
The move follows news in October that Sears had hired investment bankers to advise it on potential asset sales, including the DieHard brand, according to the Wall Street Journal at the time.
Sears has spent the last several years selling key brands to receive cash infusions and survive. In 2017, it sold the Craftsman tool brand to Stanley Black & Decker.
In February 2019, Transform Holdco, owned by former Sears CEO Edward Lampert and his hedge fund, emerged as the buyer of 425 Sears Holdings stores after the company filed for bankruptcy in late 2018.
I really hate that man, but not, one suspects, as much as the tens of thousands of people he's put out of work while killing Sears.