Sears announced that it is seeking trustee approval to sell its home improvement division to rival Service.com, Engadget reports. Service.com is an Airbnb-like service that helps homeowners find contractors. The proposed sale of Sears' home improvement division is for $60 million.
Earlier this year, Sears still had big plans for the division, which offers cleaning and handyman services Unlike its retail division, Home Services doesn't have to compete with Amazon and other retailers. Sears believed it could make a go of it by leveraging its name and helping customers set up smart home devices.
Service.com's purchase of the division is pending court approval. The "stalking horse" sale can occur if there are no other takers on Sears' home improvement division, and the acquisition could close by the end of the year.
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