Sears Holdings refutes Sears Canada report
Sears Holdings issued a statement on Monday, discounting the New York Post’s assertion that a sale of Sears Canada was in the works.
"This morning’s report concerning Sears Canada by the New York Post contains false statements regarding Sears Holdings and its intentions for Sears Canada," read the statement. "In particular, it is false to claim that Mr. Lampert, the CEO of Sears Holdings, is interviewing or otherwise is in talks with investment bankers about Sears Holdings’ interest in Sears Canada. Similarly, the claim that Mr. Lampert is conducting a ‘beauty contest’ also is false."
"Sears Holdings reiterates its October 29, 2013, statement that Sears Holdings will work with the board and management of Sears Canada with a goal of increasing the value of our 51% interest and realizing significant cash proceeds to support our transformation and to create value for our shareholders," the statement concluded.
According to inside sources who allegedly spoke to the New York Post, CEO Edward Lampert has been in talks with multiple banks about a potential sale of the Sears Canada business, though the search for prospective buyers has been unsuccessful.
Recent moves by the retailer, including the closing of its Toronto flagship store and several other profitable locations, confirms this suspicion for some in the industry.
DiGruccio joins council of Catalyst Kitchens
Shawn DiGruccio has joined the Advisory Council of Catalyst Kitchens, a network of nonprofits launched by Seattle-based FareStart that provide training and employment resources to the homeless.
DiGruccio is currently VP of CDN, a manufacturer of thermometers and timers that has been a donor to Catalyst Kitchens for two years.
In her new role on the Council, she will work to secure sponsorship and to help foster relationships with other food service and retail companies.
“Catalyst Kitchens has a strong track record of success," said DiGruccio. "CDN is proud to be a donor, and I wanted to get more involved by joining the Advisory Council. It’s great to give someone a meal, but it’s even better to give someone the training they need to earn a living over a lifetime in the growing foodservice sector."
Catalyst Kitchens is in the midst of a five-year expansion process in which it aims to enroll 6,000 chefs-in-training each year, as well as to serve 10 million meals to the needy.