Wednesday, May 27, 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

    Toronto Family Seeks Compensation For Trashed Home In 'Horrific' Rental-Gone-Wrong

    Toronto Family Seeks Compensation For Trashed Home In 'Horrific' Rental-Gone-Wrong
    Thieves made off with a 50-inch TV, treasured family heirlooms and a carefully curated sneaker collection, but it's their son's plundered piggy bank that really upsets Daniel Habashi and Andrea Van Leeuwen.

    Toronto Family Seeks Compensation For Trashed Home In 'Horrific' Rental-Gone-Wrong

    Federal Government Issues Ultimatum Over Broken Rail Line To Churchill

    Federal Government Issues Ultimatum Over Broken Rail Line To Churchill
    WINNIPEG — The federal government is threatening to sue the owner of a broken rail line that has left people in the northern Manitoba town of Churchill without a land connection to the outside world.

    Federal Government Issues Ultimatum Over Broken Rail Line To Churchill

    Manslaughter Charges Possible For Fentanyl Dealers: B.C. Public Safety Minister

    Manslaughter Charges Possible For Fentanyl Dealers: B.C. Public Safety Minister
    Mike Farnworth, who is also solicitor general, says the NDP government is considering tougher penalties against fentanyl dealers.

    Manslaughter Charges Possible For Fentanyl Dealers: B.C. Public Safety Minister

    Murder Charge Dropped Against Newfoundland Man Accused Of Killing Home Invader

    Murder Charge Dropped Against Newfoundland Man Accused Of Killing Home Invader
    Gilbert Budgell was charged with second-degree murder in the shooting of one of two masked men who entered his Botwood house in central Newfoundland in April 2016.

    Murder Charge Dropped Against Newfoundland Man Accused Of Killing Home Invader

    B.C. Man Suffered Severe Injuries In Fatal Encounter With Police, Watchdog Says

    B.C. Man Suffered Severe Injuries In Fatal Encounter With Police, Watchdog Says
    VANCOUVER — British Columbia's police watchdog is shedding light on the severe injuries suffered by a man during a deadly encounter with Vancouver police in a court document seeking an order for an officer to be interviewed as a witness.

    B.C. Man Suffered Severe Injuries In Fatal Encounter With Police, Watchdog Says

    Canadian Home Sales Gain Ground In September, But Down From Year Ago Mark

    Canadian Home Sales Gain Ground In September, But Down From Year Ago Mark
    OTTAWA — The number of homes sold in September climbed for the second month in a row after a slowdown earlier this year that was led by a cooling in the Toronto market.

    Canadian Home Sales Gain Ground In September, But Down From Year Ago Mark