Canada NewsWire
TORONTO, Nov. 23, 2016
TORONTO, Nov. 23, 2016 /CNW/ - Sears Canada Inc. (TSX: SCC;
NASDAQ: SRSC) announced today that it has entered into a definitive agreement for a real estate transaction for proceeds to the
Company of $70 million, as previously disclosed in its second quarter earnings report dated
September 7, 2016. This transaction is subject to customary closing conditions and is expected
to close in early December, 2016. This transaction will not result in any store closures.
About Sears Canada
Sears Canada is a multi-channel retailer with a network that includes 145 corporate
stores, 76 Hometown stores, over 1,000 catalogue and online merchandise pick-up locations, 80 Sears Travel offices and a nationwide
repair and service network. The Company also publishes Canada's most extensive general merchandise
catalogue and offers shopping online at www.sears.ca.
SOURCE Sears Canada Inc.
