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Sears to sell 16 stores in online auction

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Sears Holdings is selling 16 of its stores in an online auction.

Under the deals, Sears would lease back the purchased stores. In some instances, the new owners would be allowed to alter part of the properties for their purposes.

Real estate services firm Cushman & Wakefield is running the auction through online platform Real Insight Marketplace. Bids are due by May 1.

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