The turnaround specialist who had signed on to run Sears Holdings Corp's Canadian business is resigning for personal reasons, the struggling U.S. retailer said on Thursday, the same day a major shareholder said it was no longer interested in contributing to a loan.Chief Executive Officer Douglas Campbell will resign by the end of 2014 to tend to family matters, said Sears Canada, which is majority owned by Sears Holdings. Campbell had taken the helm of the unit just a year earlier.Separately, the No. 2 shareholder in Sears Holdings, Fairholme Capital Management, said it decided not to participate in a $400 million loan extended by a hedge fund of Sears CEO Eddie Lampert to get the U.S. retailer through the crucial year-end shopping season.Sears Holdings shares slid 2.8 percent on Thursday. They are down 23 percent since last Monday, when the loan deal was announced.
Sears Canada Inc. (Sears) is a multi-channel retailer. Shares of SCC traded higher by 0.79% or $0.1/share to $12.75. In the past year, the shares have traded as low as $11.03 and as high as $19.89. On average, 14912 shares of SCC.TO exchange hands on a given day and today's volume is recorded at 21259.
Sears Holdings Corporation (Holdings) is a retailer with 2,172 full-line and 1,338 specialty retail stores in the United States operating through Kmart Holding Corporation (Kmart) and Sears, Roebuck and Co. Shares of SHLD fell by 2.84% or $-0.75/share to $25.66. In the past year, the shares have traded as low as $24.10 and as high as $67.50. On average, 1011450 shares of SHLD exchange hands on a given day and today's volume is recorded at 2724443.
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