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  "documentTitle": "Macellum Kohls Presentation April 2022",
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  "notes": "The chart highlights Kohl's position relative to peers, showing that even with a sale leaseback (KSS w/SLB), the leverage ratio remains well within the peer range.",
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      "text": "It is worth noting that this is likely why all reported buyers are using proceeds from a sales leaseback to unlock value",
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      "text": "The analysis of the merits of entry into a sale leaseback transaction would be a top priority for our nominees",
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      "text": "Source: Company SEC Filings, Bloomberg LP",
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