Dive Brief:
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Private equity firm Sycamore Partners, led by Stefan Kaluzny, is reportedly interested in taking over Sears Canada.
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An auction for the controlling stake of Sears Canada is ongoing and many observers believe in the end, the retailer will be liquidated.
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Sycamore has also recently bought retail companies Jones Group, Talbots, Hot Topic, and Australian surf apparel company Billabong.
Dive Insight:
Stefan Kaluzny of Sycamore Partners is known as a bold businessman and has acquired several retail companies of late. The fate of Sears Canada remains uncertain, with many observers still to be convinced that even a Sycamore bid would ultimately save the company. But the possibility does give the retailer some hope.