Sears sells most of its Canadian unit
HOFFMAN ESTATES, Ill. — Sears, strapped for cash, is selling most of its stake in its Canadian unit to raise up to $380 million.
The sale to its own shareholders will give Sears Holdings some breathing room as it heads into the crucial holiday season.
Sears expects at least $168 million in proceeds in mid-to-late October, with the rest in November.
