Kohl'shas launched a competitive process for the sale and leaseback of its assets, reaching out to 20 different parties, CFO Jill Timm said.
Why it's the BFD: Kohl's was under pressure from Macellum Capital Management to monetize its real estate, as part of the activist investor's proxy contest earlier this year.
The retailer started eyeing a sale-leaseback after its M&A negotiations with Franchise Group broke down during the summer.
