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Canada: Sun could soon be setting on Sears

 |  November 25, 2013

Sears Holdings chairman Eddie Lampert is reportedly considering the sale of all Sears stores in Canada, according to a source, a move that may not be surprising as Lampert has been selling Sears Canada stores since he took control of the firm in 2005.

Reports say Lampert is in talks with various banks, including Goldman Sachs, about launching a possible tender of Sears Canada. Sources say that he has unsuccessfully been looking for potential buyers already.

Lampert is reportedly after the funds of a potential sale despite a 2012 announcement of plans to turn the struggling department store around. Sears has lost billions in revenue between 2002 and now.

Full Content: New York Post

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