The Canadian Press

2013-10-29 | Sears-Leases

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Sears Canada announced it was closing its flagship location in Toronto's Eaton Centre, as well as four other stores. The 400-million-dollar transaction was the largest sale of leases since the retailer began shedding assets and cutting jobs in an effort to turn around its struggling operations. In November, it announced another 800 job cuts. Canadian Press reporter Dawn Kelly had this report.

Date: 2013-10-29
Placeline: Toronto, ON, Canada
Source: The Canadian Press
Length: 33 seconds

Transcript Prediction: << Sears is selling the leases on the store's back to mall operator Cadillac Fairview and its partners in a deal worth four hundred million dollars the locations include its main store in Toronto's Eaton center as well as stores in Toronto sure way gardens the mark Phil shopping center in Markham Ontario Mason ville place in London Ontario and the Richmond center in Richmond BC Sears will be laying off about nine hundred sixty five employees says they can apply for other jobs within the company don Kelly the Canadian press Toronto >>

Clip ID: 20131029CNCP01