Sears Secures $60 Million Bid For Home Improvement Division

Sears Holdings is seeking the bankruptcy court’s approval to accept a $60 million “stalking horse” bid for its Sears Home Improvement business (SHIP). If the court approves the bid from Service.com, it would provide a floor price at the bankruptcy auction for the first Sears asset to be sold.

Service.com is a web site that helps consumers find local home improvement professionals. SHIP is a unit of the Sears Home Services division that makes more than 7 million repairs annually and employs thousands…