Sears Holding Corporation, announced today that is has reached a lease agreement with Primark – a leading fashion retailer in Europe. The lease is for seven standalone stores and Sears will definitely have a presences in each new Primark location.
“Partnering with a globally recognized brand such as Primark to help establish its store base in the Northeastern United States is testimony to both our attractive store locations and our focus on transforming Sears by working with other retailers, mall owners and brands,” said Sears Holdings Chairman and CEO Edward S. Lampert.
According to initial reports, Primark has leased approximately 520,000 gross square feet located in the Northeastern United States. While no Canadian locations have been penned, it is very likely that we will see a Primark north of the boarder. We have already seen reports from Retail-Insider indicating that Primark will be opening up retail space in the near future.
Stay tuned as we get more details.