Dive Brief:

• Hoffman Estates, IL-based Sears Holding Corp. Monday said it will drum up some cash by sharing a portion of its real estate with incoming Dublin-based retailer Primark, which is planning its American debut in 2016.

• The lease agreements are for seven locations, including the King of Prussia Mall in Pennsylvania and the Staten Island Mall in New York. The other five locations will be announced soon, the retailer said.

• The struggling retailer also said it will raise some $625 million through an offering of 8% senior notes and warrants.

Dive Insight:

Although this move is meant to beef up Sears Holding Corp.’s cash reserves to prepare for the upcoming holiday season, it brings to mind the passing of a baton. As many of Primark's “value retail” stores enter the States, Sears stores will take their leave. Right now, looks like they're unlikely to return.