Sears Holdings Corporation announced  that it is exploring strategic alternatives for its 51 percent interest in Sears Canada, including a potential sale of Sears Holdings' interest or Sears Canada as a whole. In connection with those efforts, Sears Holdings intends to engage an investment banking firm.

Sears Canada's board of directors has advised Sears Holdings that Sears Canada's board and management intend to cooperate fully with Sears Holdings in this process to achieve value for all shareholders.