P-E firm considers bid for Sears Canada

|About: Sears Canada Inc. (SRSC)|By:, SA News Editor

Sycamore Partners, a private equity firm which recently bought Jones Group, Talbots and Hot Topic, is considering a bid for Sears Canada (OTCPK:SEARF), reports New York Post.

Eddie Lampert, the hedge-fund billionaire who controls Sears and its Canadian counterpart, expects up to $2B for the 176-store chain.

Sears Canada has recently fallen on hard times, with increased competition from U.S. rivals Wal-Mart and Target who have been aggressively expanding in Canada.