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Canada: Sun could soon be setting on Sears

By  |  November 25, 2013
Canada: Sun could soon be setting on Sears

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.

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    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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