Sears Liquidation Would Cost Landlord Half Its Rent Income

  • Landlord says shutdown could erase $84 million in cash flow
  • Buffett is a big equity owner of Seritage, and also a creditor
Sears Files for Bankruptcy
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A Sears liquidation would cost its real estate spinoff 47 percent of its annual rent income, or about $84 million in cash flow, according to regulatory filings.

Seritage Growth Properties, a real estate investment trust, was created in 2015 by Sears Chief Executive Officer Eddie Lampert to be the property owner and landlord for select locations of Sears and its sister chain, Kmart.