In recent years Sears Holdings has taken a beating but Eddie Lambert has been able to continuously help the retailer bounce back. The restructuring could create separate units to manage Sears real-estate holdings and run brands such as Diehard and Craftsman, the Wall Street Journal reported. Lambert sees the move as a way to revitalize the company in the face of tough competition from companies like Wal-Mart Stores Inc., the newspaper said, citing unnamed people familiar with the situation.

Cramer has been behind a restructuring plan for quite a while. Look for major movement on SHLD in the upcoming trading days.

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