Friday, April 10, 2026
ADVT 
National

Sears Canada Closes Its Final Stores After Months-Long Liquidation

The Canadian Press, 15 Jan, 2018 12:15 PM
    The few remaining Sears Canada stores closed their doors for good on Sunday.
     
     
    The longtime staple of Canada's retail landscape declared bankruptcy last year and announced in the fall that it would liquidate its remaining stores, leaving 15,000 people out of work.
     
     
    Sales began in October, and only a fraction of the retailer's locations across Canada remained open to the bitter end.
     
     
    The chain's closure sparked a number of controversies.
     
     
    Sears Canada planned to dole out millions of dollars in retention bonuses to head office staff, while grappling with a more than $260-million shortfall in its pension plan.
     
     
    The company originally wanted to pay a total $7.6 million to 43 top employees, but revised that to a total of $6.5 million to 36 employees after a backlash.
     
     
    An Ontario judge approved the reduction, but some employees argued it was still too much money given the company was also facing a 19 per cent pension plan funding shortfall, meaning employees would likely see a similar cut to their benefits.
     
     
    And a plan by executive chairman Brandon Stranzl that would see the company continue to operate was rebuffed in favour of liquidation, prompting further questions about whose interests were being prioritized.
     
     
    Sears Canada's closure follows in the footsteps of other big-box retailers in Canada, including Target and Zellers.

    MORE National ARTICLES

    Police Officer Hit By Car And Stabbed During Edmonton Attack Is Back On Job

    Police Officer Hit By Car And Stabbed During Edmonton Attack Is Back On Job
    EDMONTON — The Edmonton police officer who was run down and then stabbed during an attack that also injured four other people on Sept. 30 is back on the job.

    Police Officer Hit By Car And Stabbed During Edmonton Attack Is Back On Job

    'I'm Just So Furious': Mother And Son Both Fall Victim To Equifax Canada Hack

    'I'm Just So Furious': Mother And Son Both Fall Victim To Equifax Canada Hack
    TORONTO — Robin Harvey thought she was being financially prudent when she urged her son to sign up to monitor their credit files at Equifax Canada in 2013.

    'I'm Just So Furious': Mother And Son Both Fall Victim To Equifax Canada Hack

    'First Line Of Defence:' Calgary Schools Get Toolkit Against Child Abuse

    'First Line Of Defence:' Calgary Schools Get Toolkit Against Child Abuse
     Schools in Calgary are the first to get a toolkit aimed at helping educators across the country recognize child abuse.

    'First Line Of Defence:' Calgary Schools Get Toolkit Against Child Abuse

    B.C.'s Greens Put Ride-hailing On Legislature Agenda With Private Member's Bill

    B.C.'s Greens Put Ride-hailing On Legislature Agenda With Private Member's Bill
    VICTORIA — The Green party is taking its third run at bringing ride-hailing to British Columbia, tabling a private member's bill to pave the way for transportation companies like Uber and Lyft.

    B.C.'s Greens Put Ride-hailing On Legislature Agenda With Private Member's Bill

    Raymond Caissie Sentenced To Life In Prison For 2014 Murder Of Surrey Teen Serena Vermeersch

    Raymond Caissie Sentenced To Life In Prison For 2014 Murder Of Surrey Teen Serena Vermeersch
    NEW WESTMINSTER, B.C. — A British Columbia man has been sentenced to life in prison without the possibility of parole for 17 years after pleading guilty to second-degree murder.

    Raymond Caissie Sentenced To Life In Prison For 2014 Murder Of Surrey Teen Serena Vermeersch

    Kulwinder Kaur Gill Murder: Husband Iqbal Singh Gill Pleads Guilty To His Part In Her Murder

    Kulwinder Kaur Gill Murder: Husband Iqbal Singh Gill Pleads Guilty To His Part In Her Murder
    Kulwinder Gill was 42 when she died in April 2009, and police say the driver failed to remain at the scene on a rural road in Abbotsford.

    Kulwinder Kaur Gill Murder: Husband Iqbal Singh Gill Pleads Guilty To His Part In Her Murder