Statement attributable to ESL Investments:

The coverage in this article ignores significant facts about the operating management and governance of Sears Canada and the impact that the changing retail environment has had on all retailers. While reporting on what prior CEOs said about their intentions, it doesn’t state what their strategies were nor critically evaluate the results of those strategies.

Prior to publication, ESL Investments, a major investor in Sears Canada since 2012, responded directly to questions by the author and provided important context, but very little of our response was considered in the article. For those readers interested in ESL’s perspective on the context and facts behind the failure of Sears Canada, we have prepared a statement available through the following link: https://eddielampert.wordpress.com/2017/10/22/esl-response-to-the-globe-and-mail-article/