Sears Holdings Corp. said restructuring charges for relocation costs and termination benefits associated with its takeover by Kmart Holding Corp. could total about U.S. $60 million.
The retailer said in a filing with the Securities and Exchange Commission that about $30 million would come from costs to relocate employees, with the balance representing termination-related costs for affected Kmart employees. However, Sears said the final cost of the blockbuster deal still depends on the number of employees who accept relocation offers to remain with the company.
Sears said it will record a $3 million pretax charge for the restructuring costs during the first quarter, while the balance will be recorded over the next several months. (BusinessWeek)
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