Wednesday, April 8, 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

    Experts See Some Relief For Vancouver's Tight Housing Market By Late 2018

    Experts See Some Relief For Vancouver's Tight Housing Market By Late 2018
    VANCOUVER — A real estate association watching Metro Vancouver's tight and costly housing market predicts conditions should begin to ease by the third quarter of 2018.

    Experts See Some Relief For Vancouver's Tight Housing Market By Late 2018

    Vancouver Warns Homeowners To Fill In Forms On Empty Homes Tax Or Risk Fine

    Vancouver Warns Homeowners To Fill In Forms On Empty Homes Tax Or Risk Fine
    Vancouver Mayor Gregor Robertson is warning homeowners if they fail to declare their property status by Feb. 2, they will face the city's empty homes tax plus a $250 fine.

    Vancouver Warns Homeowners To Fill In Forms On Empty Homes Tax Or Risk Fine

    Jagmeet Singh Sets Sights On Opioids, Pushes Trudeau To Legalize All Drugs To Tackle Crisis

    Jagmeet Singh Sets Sights On Opioids, Pushes Trudeau To Legalize All Drugs To Tackle Crisis
    OTTAWA — NDP Leader Jagmeet Singh is urging Prime Minister Justin Trudeau to consider decriminalizing all illegal drugs in an effort to combat Canada's escalating opioid crisis..

    Jagmeet Singh Sets Sights On Opioids, Pushes Trudeau To Legalize All Drugs To Tackle Crisis

    Abbotsford Police Officer Killed Identified As John Davidson, A 24 Year Veteran

    Abbotsford Police Officer Killed Identified As John Davidson, A 24 Year Veteran
    ABBOTSFORD, B.C. — A British Columbia police officer who died in the line of duty has been identified as a constable with 24 years of experience who was also active in his community.

    Abbotsford Police Officer Killed Identified As John Davidson, A 24 Year Veteran

    At Least Two Police Officers Injured In Abbotsford, B.C., Suspect In Custody

    At Least Two Police Officers Injured In Abbotsford, B.C., Suspect In Custody
    The Incident Occurred Near Mount Lehman Road And Fraser Highway Shortly Before Noon

    At Least Two Police Officers Injured In Abbotsford, B.C., Suspect In Custody

    Teens Who Drink, Smoke Weed Are Less Likely To Study, Score Jobs Or Get Married

    A study found that chronic marijuana use in adolescence was negatively associated with achieving important developmental milestones in young adulthood.

    Teens Who Drink, Smoke Weed Are Less Likely To Study, Score Jobs Or Get Married