Sears considers REIT to raise cash

Struggling retailer Sears Holdings Corp. is exploring the conversion of 200 to 300 stores to a real estate investment trust and offer it to shareholders through a rights offering to raise cash.

According to Reuters, the company has been looking to raise cash in the build-up to the year-end shopping season.

The company has been closing stores, slashing inventory and selling off assets to generate cash after a decade of falling sales and dwindling margins. It has booked losses for nine straight quarters.

Read more from Reuters.