U.S. private equity firm to invest in Sears Canada

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According to the New York Post, U.S. private equity firm Sycamore Partners is considering a bid for Sears Canada after recently buying Jones Group, Talbots and Hot Topic. Sycamore bought Jones Group for $1.2 billion and Hot Topic for $600 million. The year before that, Sycamore purchased Talbots Inc., a women’s apparel chain brand, for $391 million. Sycamore Partners and Sears Holdings did not comment on the matter concerning Sears

Sears Canada has been in a rivalry with U.S. names like Wal-Mart and Target for the past couple of years, as the latter have developed their expansion in Canada. Back in May, Sears Holdings announced to sell its 51 per cent stake in Sears Canada. CJ

 

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