Sears to Spin Off Interest in Hardware Chain

HOFFMAN ESTATES, Ill.-Sears Holdings said Orchard Supply Hardware Stores, in which it holds an interest, has filed a registration statement with the U.S. Securities and Exchange Commission in connection with Sears Holdings' plan to spin off that interest.

Orchard Supply operates 89 full-service hardware stores in California. According to a Sears Holdings' statement, the spinoff will result in certain shareholders (unnamed in the statement and the filing) owning all of the capital stock that Sears Holdings owns immediately prior to the spinoff. This will consist of common stock that will represent about 80 percent of the voting power of Orchard Supply's outstanding capital stock and preferred stock, and 100 percent of Orchard Supply's outstanding non-voting capital stock.

No date was given in the statement as to when the spinoff might be finalized.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


  • Patti Carpenter Talks Color and its Importance in the Home

    Camera Icon   More Videos

Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN August 2017 cover


    August 2017

    COVER STORY: Sharpening the Focus on Millennials

    Find out what makes Millennials tick when it comes to home decorating, shopping and at-home entertaining with HFN's annual consumer study. Turns out, Millennials favor the in-store shopping experience.


    • Power of the People - Crowdfunding campaigns provide needed capital, feedback for home and housewares product launches.
    •  Omnichannel Retailing: Visual Search Takes Off - Learn how voice and visual search are revolutionizing product discovery.