The Sears Holdings empire plans a strategic retreat from Canada.
In a three-sentence announcement released Wednesday morning, Hoffman Estates, Ill.-based Sears Holdings Corp. said it is "exploring strategic alternatives for its 51% interest in Sears Canada, including a potential sale of Sears Holdings' interest or Sears Canada as a whole."
The company said it plans to hire an investment bank to help with the sale. It didn't say which firm.