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Sears plans to sell credit-card unit in major change

Authors :
Sidel, Robin
Merrick, Amy
Hallinan, Joseph T.
Source :
The Wall Street Journal Western Edition. March 26, 2003, A3
Publication Year :
2003

Abstract

Sears, Roebuck and Co. is planning to sell its MasterCard and Sears card unit as the number of payment delinquencies and $27 billion in the unit's debt is impacting the department store's ability to reorganize its retail operations. Sears is hoping to sell the unit for between six and seven billion dollars. Possible suitors include Bank of America, Citigroup and Bank One.

Details

ISSN :
01932241
Database :
Gale General OneFile
Journal :
The Wall Street Journal Western Edition
Publication Type :
News
Accession number :
edsgcl.99190852