Sears to Lease Space in 7 U.S. Sites to Primark
Sears, the struggling one-time U.S. retail stalwart, said Monday that it would lease seven locations to European fashion retailer Primark. Primark, which is owned by Associated British Foods, will lease about 520,000 gross square feet of retail space over the next 12 months to 18 months in mall-based Sears locations in the Northeastern U.S., Sears said. Financial terms of the deals weren't disclosed. The Primark agreements mark the latest moves in Sears’ efforts to survive.