Dead department stores are finding an unexpected new life with U-Haul (M, SHLD, UHAL)

AP Photo/Charlie Neibergall

• U-Haul is looking to buy 13 former Sears and Kmart stores for $ 62 million, court documents show.
• These former department store locations will be repurposed into U-Haul storage centers and places to house its fleet of rental trucks. 
• U-Haul has a policy in place whereby it buys and renovates pre-existing buildings and uses them for new purposes. Earlier this year, it bought a former Macy’s store after it closed down. 

U-Haul could make a small dent in Sears’ debt load. 

The truck rental and storage company is looking to buy 13 former Sears and Kmart stores for $ 62 million, according to court documents that were first reported by SpareFoot. A spokesperson for U-Haul said that the company is currently awaiting approval from the bankruptcy court. 

See the rest of the story at Business Insider

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