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Sears hopes to sell its home improvement business to Service.com

146.00 £
Published date: 2024/06/27
  • Location: 42400, Pike Creek, Illinois, United States
-text c-gray-1" >Bankrupt retailer Sears announced that it's seeking permission to sell its home improvement division to a key rival partly responsible for its downfall. Pending trustee approval, it will sell the business to Service.com, an Airbnb-like service that helps home owners find contractors, for $60 million. Sears Home Services is considered to be one of the retailer's more valuable assets, so the asking price shows how far the company -- which employed 302,000 people just a decade ago -- has fallen.

Earlier this year Sears still had big plans for the division, which offers cleaning and handyman services. Unlike its retail division, Home Services doesn't have to compete with Amazon and other retailers. Sears believed it could make a go of it by leveraging its name and helping customers set up smart home devices.

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