Dive Brief:

• Hoffman Estates, IL-based Sears Holdings Corp. said Wednesday that it is “exploring strategic alternatives for its 51% interest in Sears Canada,” which could mean selling some of its stake or Sears Canada as a whole.

• Sears Canada has been struggling and has already sold off leases, closed stores, and laid off many employees.

• Sears Canada is amenable to a sale, according to Sears Holdings Corp. 

Dive Insight:

While some retailers, most notably Target, have failed to find much success in Canada, others like Nordstrom, British fast-fashion retailer Primark, and Fast Retailing’s Uniqlo have expanded or plan expansions there. Still, it’s unclear what company would snap up Sears Canada, especially since many of its remaining stores are not in areas retailers may want to enter, including suburbs or small shopping centers.