Thursday, May 28, 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

    Passerby Throws A Sign At A Barking Chihuahua, Shattering Her Jaw And Causing Her To Lose An Eye

    Police say a 36-year-old Halifax man was walking his own large dog on Davison Street on Monday evening when he passed the barking Chihuahua's house.

    Passerby Throws A Sign At A Barking Chihuahua, Shattering Her Jaw And Causing Her To Lose An Eye

    Feds Find More Than A Dozen Who Had Entered US From Canada

    Feds Find More Than A Dozen Who Had Entered US From Canada
    DERBY LINE, Vt. — The U.S. Border Patrol says agents apprehended a group of 16 people from Mexico and two countries in Central America after some of them illegally entered the United States from Canada.

    Feds Find More Than A Dozen Who Had Entered US From Canada

    Politicians Criticize Trudeau's Reaction To Critics Of Energy East Demise

    Politicians Criticize Trudeau's Reaction To Critics Of Energy East Demise
    Federal Conservative Leader Andrew Scheer says Prime Minister Justin Trudeau should not go after critics of the cancelled Energy East pipeline project, but should look to his own actions.

    Politicians Criticize Trudeau's Reaction To Critics Of Energy East Demise

    Local Man Charged With Murder In Death Of Canadian Killed In Belize: Police

    Local Man Charged With Murder In Death Of Canadian Killed In Belize: Police
    Police in Belize say they have charged a 52-year-old man with murder in the shooting death of a Canadian man last week.

    Local Man Charged With Murder In Death Of Canadian Killed In Belize: Police

    #RiderGrandpa Asks If Photo Will Go Viral, But Doesn't Know What Viral Means

    #RiderGrandpa Asks If Photo Will Go Viral, But Doesn't Know What Viral Means
    REGINA — Alex Taylor says her grandfather looked so cute wearing his Saskatchewan Roughriders gear that she had to take his picture.

    #RiderGrandpa Asks If Photo Will Go Viral, But Doesn't Know What Viral Means

    Missing Olympic Boxing Medallist Shawn O'Sullivan Found

    Missing Olympic Boxing Medallist Shawn O'Sullivan Found
    NEWMARKET, Ont. — Police in York Region, north of Toronto, say former Canadian Olympic boxer Shawn O'Sullivan was found early Tuesday, several hours after he was reported missing.

    Missing Olympic Boxing Medallist Shawn O'Sullivan Found