September 24, 2018 / 1:50 PM / 21 days ago

Sears CEO says retailer needs to sell more real estate to cut debt

Sept 24 (Reuters) - Sears Holdings Corp's Chief Executive Officer Edward Lampert's hedge fund has urged the retailer to sell more real estate, as part of a plan to cut about $1.5 billion of its debt, according to a regulatory filing here

Lampert and his fund ESL Investments Inc are the company’s two largest shareholders, according to Thomson Reuters data.

Sears earlier this month again warned that it could go out of business. (Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila)

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