150 Kmart and Sears stores are slated to close in Q3, on top of the 180 closed earlier this year and the 28 Kmart stores set to close later this year.
An SEC filing from Berkowitz’s Fairholme Capital said the investors are discussing a “negotiated transaction” with the bankrupt retailer.
Sears is closing eight more Sears and 35 more Kmart stores, its fourth round of closure this year and a total so far of nearly 310.
Since 2012, Sears has closed about half of its Sears domestic and Kmart stores, and store closures are expected to continue for the two nameplates.
The off-price channel will also benefit from closures of department store doors at the mall.
The breach occurred at some Kmart stores.
Sears will offer the Regatta Great Outdoors apparel brand in the fall.
Sears posted Q1 profits due to cost cutting, but ended up in the red after adjustments.