Real Estate

Sears spinoff Seritage explores alternatives, Eddie Lampert quits board


Eddie Lampert, former CEO of Sears.

Source: Sears Holdings

Seritage Growth Properties, a real estate investment trust that was spun out of embattled department store chain Sears in 2015, said Tuesday it is exploring strategic alternatives for its business.

The company also announced that former Sears CEO Eddie Lampert, who had been serving as chair of Seritage’s board, is retiring, effective immediately.

Lampert said in a statement that he wanted to have greater flexibility to explore alternatives for his investment in Seritage, which could include participating with parties that may be interested in acquiring certain assets from the company.

As of Sept. 30, Lampert owned a 22.1% interest in…


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