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Sears Canada Closes More Stores

By: CBC/CBS
By: CBC/CBS

Sears Canada is closing the doors for good on at least two of its Toronto area locations.

The company is selling the leases on stores at the Yorkdale Shopping Centre and Square One in Mississauga.

The mall owners will buy back the leases for a total of 191-million dollars.

The retailer could receive another $54 million dollars.

That's if the landlords exercise an option to have Sears leave it's spot at the Scarborough Town Centre.

Sears Canada has had declining revenue for the past seven years.


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