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 two retailers are now operated separately, but with the same financial backer in Edward Lampert, their fates appear inextricably linked.
The filing comes amid a brand “reinvention” and years of losses.
It’s the second month sales in apparel have grown.
The off-price channel will also benefit from closures of department store doors at the mall.