The hedge fund manager wants to shrink stores and sell less apparel.
The utility said it also expected the board to include 11 independent directors by the time of the meeting.
Both current and former Sears and Kmart are sick of their jobs "being tossed around like a volleyball."
“There are some retailers out there that we’re nervous about," Simon Property Group CEO David Simon said.
Control of the country’s energy funds are at the center of the ongoing fight for political leadership.
Since 1991, a slew of utility giants have been forced to file for bankruptcy.
PG&E now ranks No. 6.
The utility giant has close to 10 million customer accounts.
An investor group reportedly offered the utility giant $4 billion.
Sears filed for Chapter 11 bankruptcy late last year and announced plans to close dozens of stores amid sagging sales.
Shares are popping on the news.
The company said it has obtained $480 million in financing from lenders, including Wells Fargo, in order to continue normal operations.
The decision came weeks after the company said it had begun a strategic review of Gymboree, Janie and Jack and Crazy 8.
The struggling retailer said the $443 million in charges includes $81 million in product price markdowns.
After years of plunging sales and declining store traffic, Sears filed for Chapter 11 bankruptcy last October.
Kathryn Carson, chair of USA Gymnastics’ board of governors, said the filing will help the governing body resolve the pending lawsuits.
Sears filed for Chapter 11 bankruptcy last October and said it would close 142 unprofitable stores as part of the restructuring process.
David’s Bridal operates more than 300 stores, all of which will remain open during bankruptcy proceedings.
Unsecured lenders have little faith in Sears’ plan to keep its doors open.
The loan will be in addition to the $300 million loan offered by Sears’ banks