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Sears Canada Draws Private-Equity Interest

Sears Canada Inc.’s top executive is negotiating a private-equity-backed deal for a slimmed-down version of the insolvent retailer, according to people familiar with the matter.

The proposed offer could be valued at more than 650 million Canadian dollars ($533 million) and would slash the company’s store footprint by more than half, people familiar with the matter said. But it could preserve at least 8,000 jobs while paying off…

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