Sears Canada Races to Close More Stores Amid Cost-Cutting Efforts

Sears Canada Inc. is stepping up its efforts to close another round of stores, raising more questions about its fate and putting pressure on landlords who already have a lot of empty retail space. The struggling Sears has instructed real estate firm CBRE to look for alternative uses for the company's weakest stores, such as its clearance outlets, Brandon Stranzl, executive chairman of Sears Canada, said in an interview this week. As well, Sears officials are working internally to shrink its store network, he said.