Sears Canada executive in talks with private equity for deal: Reuters

Struggling retailer Sears Canada Inc’s top executive is negotiating a private-equity backed deal that could be valued at more than $650 million (US$533 million), Reuters reported, citing a Wall Street Journal story. The retailer’s Executive Chairman Brandon Stranzl last month stepped away from day-to-day operations to focus on plans for the company, which filed for creditor protection in June. A potential deal by Stranzl would be financed partly through private-equity capital sourced by Vadim Perelman, the founder of Baker Street Capital Management, and with debt financing, sources told the Wall Street Journal. The proposed offer would reduce the company's store footprint by more than half.

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