Savvy shoppers know that the deals available at store-closing and liquidation sales are generally terrible, but that didn’t stop everyone else from raiding Sears Canada stores over the weekend, strewing boxes and merchandise across the floors. Shoppers described the scene as “apocalyptic,” which sounds about right. [More]
sears canada
Bankrupt Sears Canada Asks Court For Permission To Liquidate, Shut Down
By 10.10.17
Like its American cousin, Sears Canada is in financial trouble. Unlike Sears Holdings, it doesn’t have a vast real estate portfolio that it can sell to raise cash. To that end, the company announced today that there is no way to keep the business going, and it will close all stores and liquidate. [More]
Sears Canada Lays Off Mike Myers’ Brother And 2,899 Other People Without Severance
By 7.14.17
Not long ago, as Sears Canada (a separate company from Sears Holdings here in the United States) was struggling and closing a few stores, one longtime employee did something important for the company’s morale and good publicity. He asked his brother, comedian Mike Myers, to make a commercial for Sears Canada. Four years later, Peter Myers has been laid off with no severance. [More]
Retail Apocalypse Spreads North: Sears Canada Files For Bankruptcy
By 6.22.17
The same factors hurting department stores and Sears stores in particular are affecting retailers north of the Canadian border as well: Today Sears Canada announced that it’s applied for creditors protection, the equivalent of Chapter 11 bankruptcy, and plans to reorganize and shed some of its current stores. [More]
Sears Canada Offers Criticism Of Target Canada, Discount And Jobs To Workers
By 1.19.15
Last week, Target announced that it is fleeing Canada, giving up on its ill-fated expansion and closing all 133 of its poorly-stocked stores that nobody wants to shop in. An unlikely source has publicly offered support to Target employees who are about to lose their jobs: quasi-competitor Sears Canada. [More]
Sears Circles Back Around To Idea Of Selling Sears Canada Stake
By 5.14.14
Sears Holdings Corporation first started whispering that it might spin off or sell its stake in Sears Canada a few years ago, when the company first started publicly naming parts of itself that it could sell for cash. Since then, Hometown and Outlet stores are thriving as a spun-off company, so why not Sears Canada? [More]
