cnbc.com/2022/07/01/kohls-real-estate-sale-on-the-table-after-deal-talks-fall-apart.html
Kohl's is looking to sell some of its real estate. This reverses a prior stance that the retailer had against so-called sale-leaseback transactions. Kohl's for months has been pressured by activist firms including Macellum Advisors to consider a sale of the company.

Kohl's terminated deal talks with The Vitamin Shoppe owner Franchise Group. Instead, Kohl's said, it will continue to operate as a standalone public company. The retailer has been pressured by activist firms including Macellum Advisors to consider a sale. But it's now looking to sell some of its real estate, reversing its prior stance.

Kohl's has been resistant to so-called sale leaseback transactions. The company did complete a small sale-leaseback deal earlier on in the Covid pandemic. Kohl's explicitly noted in its press release that its board is currently reevaluating ways that the retailer can monetize real estate.

As of Jan. 29, Kohl's owned 410 locations, leased another 517 and operated ground leases on 238 of its shops. "Now you've got an environment where financing has changed so much that it may in fact be more attractive to use real estate as a monetization vehicle," Boneparth says.
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