Sears Canada Downsizes

Sears Canada Inc. (Toronto) announced it will continue downsizing its real estate holdings. The latest sale is its distribution center located in Vaughan, Ont., British Columbia, though the buyer was not named.

The Vancouver Sun reports the sale equaled $100 million, and Sears Canada will continue operating in the center until the transaction closes next year.

Sears Canada’s real estate sales are moves to bolster company finances. The chain still operates 166 corporate stores and 177 Hometown stores throughout Canada.