In a classy legal move, Sears Canada is suing Ryerson University, seeking unspecified damages for a breach of contract.
Sears claims that it gave Ryerson a $10 million property with the expectation that a building would be named for Sears down the road.
“To date, Ryerson has taken no steps to associate the name ‘Sears’ with an academic facility on campus,” reads the claim filed in Ontario’s Superior Court of Justice.
The property Sears donated, a computing and engineering building, was named for philanthropist George Vari in exchange for a $5 million gift—which is, Sears’ claim notes, half their donation.
Sears’ contribution is honoured with a plaque bearing the company’s name.
Ted Rogers, founder of Rogers Communications Inc., paid $15 million to see Ryerson’s new business school named after him.
