No one wants to buy (or run) Sears Canada
This hasn’t been a good week for Sears Canada. First, Eddie Lampert, the CEO of Sears Holding Corporation, tried to sell off his majority stake in the struggling retailer. Unfortunately, the auction attracted exactly zero acceptable bids, according to the New York Post, forcing the billionaire to fork over a $400 million loan from his own hedge fund. And now, the Globe reports that Sears Canada’s CEO, Douglas Campbell, is resigning after less than a year at the helm. Needless to say, the outlook for the department store looks pretty bleak, and people are noticing.