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Sears To Raise Money By Selling Some Stores

STEVE INSKEEP, HOST:

NPR's business news starts with a sale at Sears.

Sears says it is spinning off outlet, hometown and hardware stores. The deal is expected to help the company raise up to $500 million. It's also selling some of its other properties in a separate deal.

This comes after Sears said in December it would close about 100 stores after an abysmal holiday shopping season. Transcript provided by NPR, Copyright NPR.

NPR transcripts are created on a rush deadline by an NPR contractor. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.