Sears to Reorganize?

Sears Holdings Corp. plans to reorganize into several companies in another bid to pull the ailing 121-year-old retailer out the doldrums, according to a report published Saturday.

The restructuring could create separate units to manage Sears real estate holdings and run brands such as Diehard and Craftsman, the Wall Street Journal reported.

Edward Lampert, the hedge fund kingpin and Sears Holdings chairman, sees the move as a way to revitalize the company in the face of tough competition from companies like Wal-Mart Stores Inc., the newspaper said, citing unnamed people familiar with the situation.

Details, including which units might run the Hoffman Estates-based company's 3,800 Sears and Kmart stores in the United States and Canada, weren't clear.

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