Sears exploring sale of home improvement business

By Jessica DiNapoli and Mike Spector

NEW YORK (Reuters) – Sears is exploring a sale of its home improvement business following interest from potential suitors such as private equity firms, people familiar with the matter said on Wednesday.

The struggling U.S. retailer’s Sears Home Services division has emerged as a coveted asset during the COVID-19 pandemic, as consumers embark on renovations while they stay home.

The division is one of the department store operator’s few crown jewels following its bankruptcy in 2018 and $5.2 billion sale to hedge fund manager Eddie Lampert, who was already its biggest shareholder and creditor.

Transformco, the owner of the Sears and Kmart retail chains, could raise at least $1 billion by divesting the home improvement business, the sources said. Sears has tapped investment bankers at Guggenheim Securities LLC to explore selling the business, the sources said.

Transformco could also sell a stake in Sears

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IKEA and SPACE10 Launch Website to Rethink Interior Design

The key to great design often lies in the imagination process. After all, nearly every great product and innovation has come from asking a simple question like “what if?”. Now IKEA and its research and design lab SPACE10 are taking that idea further by creating a powerful virtual playground for experimentation.

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Called Everyday Experiments, the new site is dedicated to exploring fun innovations in the world of interior design. As a result of recent events like the outbreak of the COVID-19 pandemic, most people are finding themselves at home much more often than before, leaving many to contemplate different pieces and layouts for their spaces. Everyday Experiments allows you to further that exploration through various media formats.

“The future home should be about the people first. It’s a place for everyone to be safe, to feel comfortable and in control. Technology is quickly becoming a vital

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