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Sears Canada Inc (SCC.TO)

SCC.TO on Toronto Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Sears Canada enters into credit agreement
Tuesday, 21 Mar 2017 09:26am EDT 

Sears Canada Inc : Sears Canada enters into credit agreement . Sears Canada - entered a credit agreement with KKR Capital Markets Llc and GACP Finance Co., Llc for five-year secured term loan of up to $300 million . Sears Canada Inc- loan is available in two tranches . Sears Canada Inc - first tranche of $125 million has been drawn in full today .Sears Canada Inc - second delayed-draw tranche of up to an additional $175 million may be drawn at corporation's option.  Full Article

Sears Canada Q1 loss per share c$0.62
Wednesday, 8 Jun 2016 07:54am EDT 

Sears Canada Inc Says Appointment Of Billy Wong , Senior Vice : Sears canada inc qtrly same store sales declined 7.4% . Core retail same store sales declined 6.9% for q1 . Announced sale-leaseback of vancouver national logistics centre for $23.4 million . Sears canada inc says has organized its operating and asset rationalization plans to end 2016 fiscal year with a pro forma cash balance of at least $400 million . Expected that accounting for sale and leaseback will be finalized at closing, which is anticipated to be in q3 of 2016 . 2016 full-year annualized cost reduction plans have now been increased to a range of $127 to $155 million . President, corporate financial planning, as interim cfo, effective july 1, 2016 . Sears canada reports first quarter results . Q1 loss per share c$0.62 .Q1 revenue fell 14.5 percent to c$595.9 million.  Full Article

Sears Canada Inc issues a voluntary product recall for Whole Home Noel 70 L.E.D. Christmas Lights - Reuters
Friday, 18 Dec 2015 05:46pm EST 

Sears Canada Inc:Issues a voluntary product recall for Whole Home Noel 70 L.E.D. Christmas Lights.Says has not received any reports of incidents.  Full Article

Sears Canada Inc and Nygard partnerships enter into strategic alliance to install nygard slims shops across Canada
Thursday, 13 Aug 2015 01:19pm EDT 

Sears Canada Inc:Entered into a strategic alliance to grow the installed base of Nygard Slims shops to more than half of Sears Canada's 95 full-line stores by Nov. 2015.When complete, the rollout of the Nygard Slims shops will constitute an increase in Nygard's investment in Sears Canada stores of more than three-fold in Nygard Slims shops, and two-fold overall in Nygard branded products.  Full Article

Sears Canada Inc president and chief executive officer to depart, Brandon G. Stranzl to be executive chairman
Thursday, 2 Jul 2015 08:00am EDT 

Sears Canada Inc:Says Ronald D. Boire will be departing from his position as president and chief executive officer of the company.Says Brandon G. Stranzl, chairman of the of the corporation board, has been named executive chairman effective immediately.Says board of directors will commence a search for a new president and CEO.  Full Article

Sears Canada Inc and Concord pacific closes sale and leaseback for three properties
Tuesday, 9 Jun 2015 07:00am EDT 

Sears Canada Inc:Says the company and Concord pacific announce the closing of sale and leaseback for three properties.Says the after-tax proceeds, including adjustments, are estimated to be about $130 million.Says will continue to operate the stores located at these shopping centres under long-term leases.  Full Article

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BRIEF-Sears Canada enters into credit agreement

* Sears Canada - entered a credit agreement with KKR Capital Markets Llc and GACP Finance Co., Llc for five-year secured term loan of up to $300 million