Sears is considering selling its popular Kenmore appliance brand and other divisions after the hedge fund run by CEO Edward Lampert expressed interest in buying them and breaking up the company.Sears’ board is beginning a formal process to explore the sale of three pieces of the business Lampert’s ESL Investments expressed interest in acquiring — Kenmore, the home improvement business of the Sears Home Services Division, and the Parts Direct business of Sears Home Services, the retailer said Monday.Sears Holdings has been exploring alternatives for those businesses — as well as the Craftsman tools and DieHard battery brands — for nearly two years, saying it believes they have room to grow by expanding their reach beyond Sears.

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