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
Author: Canadian Jeweller Magazine Staff
Canadian Jeweller Magazine Staff is the shared byline for reporting filed by the magazine's editorial desk. Founded in 1879, Canadian Jeweller is the longest running jewellery business publication in Canada, covering market reporting, retail strategy, watches, diamonds, coloured gemstones and the commerce of the Canadian jewellery trade. Work published under this byline is edited and verified by the Canadian Jeweller editorial team in Toronto.
