Sears Canada tells employees 'all of our jobs' will be eliminated

It's Official, Sears Canada Is Going Out Of Business

Sears Canada Inc. announced Tuesday it will be applying to the Ontario Superior Court of Justice for approval to liquidate all of its remaining stores and assets, including its 124,000-square-foot, two-level store at the west end of the Cataraqui Centre in Kingston.

Sears Canada has been in court-approved creditor protection since June 22 and was hoping to find a buyer for the beleaguered chain.

Sears Canada now has 74 full department store locations, eight Sears Home Stores, and roughly 49 Sears Hometown stores, facing closure, according to company spokesman Joel Shaffer.

The liquidation of its last 200 stores is expected to start on Oct 19 and last for 10 to 14 weeks.

Sears Canada received and implemented going concern transactions for various lines of business, but following exhaustive efforts, no viable transaction for the Company to continue as a going concern was received.


"The people who have worked for us have been fantastic", said Vincent Power, spokesperson for Sears Canada, in a phone interview with CBC P.E.I.

The move would close all of the stores unaffected by June closures, including the North Bay location.

The company said it will inform individual employees of their status in the coming days, but expects the liquidation to be wrapped up by early next year.

Sears Canada now has 74 full-line locations, eight Sears Home Stores, and roughly 49 Sears Hometown stores, according to Sears Canada spokesman Joel Shaffer.

"We have not been contacted by Sears or their representatives regarding their plan". Sears Canada will continue to provide updates regarding its restructuring as developments warrant.

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