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Sears Canada Has Been Granted Court Approval to Begin Liquidation of its Remaining Stores

Sears Canada Has Been Granted Court Approval to Begin Liquidation of its Remaining Stores

By Ambia Staley

Sears Canada has officially been granted approval to begin the liquidation process of all its remaining stores.

The company announced earlier this week that it had planned to file a motion with the Ontario Superior Court in order to close all remaining store locations after efforts to restructure the ailing brand failed.

This motion will leave the last 12,000 Sears employees out of a job, and see all remaining 130 Sears stores across Canada -- including 74 full-brand stores, 8 Sears Home stores, and 49 Sears Hometown stores close their doors for good.

Sears stated in a press release earlier this week, that once court approval was granted, liquidation sales would begin no earlier than October 19 and were expected to last through the holiday season, for 10 to 14 weeks, with sales finishing no later than January 21, 2018.

This announcement sees the end of Sears Canada, which entered the Canadian market in 1952 (as Simpsons-Sears) and was once a favourite of Canadians for its appliances, mattresses, and tools, as well as the famous Sears Catalogue and Holiday Wish Book.

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  • playnicee1
    • some of those locations are horribly wrong lol (the province)
      Yeah, I was beginning to wonder if the province was listed wrong or if there really is an Oshawa NB etc... 😄
    • Report Post
  • MrEmoji
    • Store fixtures anyone? Some Sears stores still selling until Jan. 26th...

      Image
      Image
      some of those locations are horribly wrong lol (the province)

      anyways, i picked up a couple things. my local sears cleared it all out for a buck each. it was a nut house in there. grabbed some heavy duty tables and such. amazing deals on high quality stuff
    • Report Post
  • craftsman
    • I thought Hilco worked something out with the suppliers (that had inventory already in Sears) so that instead of getting nothing, they would get a bit more than just pennies, which, indeed may as well be nothing.
      Maybe... but after the fiasco of Target's liquidation, if you were a supplier, would you trust them?
    • Report Post
  • playnicee1
    • That's stock is probably from one of Sears former suppliers which supplied Sears branded product. They were lucky that the stuff didn't make it to Sears or they would have gotten nothing for it.
      I thought Hilco worked something out with the suppliers (that had inventory already in Sears) so that instead of getting nothing, they would get a bit more than just pennies, which, indeed may as well be nothing.
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  • craftsman
    • BOBBY'S OUTLET: https://bobbysliquidation.com/ is where a lot of the Sears inventory that was intended to go to a Sears store can be found. Leftover unsold Sears inventory is expected to be dumped off there also...
      That's stock is probably from one of Sears former suppliers which supplied Sears branded product. They were lucky that the stuff didn't make it to Sears or they would have gotten nothing for it.
    • Report Post
  • playnicee1
    • Any word of discount stores buying up warehouse stock? When Target went under a lot of Target products started turning up at Dollarama and other stores. Anything to suggest anything similar with leftover Sears stock?
      BOBBY'S OUTLET: https://bobbysliquidation.com/ is where a lot of the Sears inventory that was intended to go to a Sears store can be found. Leftover unsold Sears inventory is expected to be dumped off there also...
    • Report Post
  • craftsman
    • Any word of discount stores buying up warehouse stock? When Target went under a lot of Target products started turning up at Dollarama and other stores. Anything to suggest anything similar with leftover Sears stock?
      I would doubt that they would have much warehouse stock left. The Sears sale went pretty fast so I would have guessed that they moved all of the stock from their warehouses long ago and shut them down first.
    • Report Post
  • Chew300ZX
    • Any word of discount stores buying up warehouse stock? When Target went under a lot of Target products started turning up at Dollarama and other stores. Anything to suggest anything similar with leftover Sears stock?
    • Report Post
  • playnicee1
    • Store fixtures anyone? Some Sears stores still selling until Jan. 26th...

      Image
      Image
    • Report Post
  • webshark
    • If they had invested that money which came from the sale of the best stores in 2013 they might have turned it around. The American owner stripped it down and sold it instead of trying to make it profitable. He even cancelled a deal with Amazon. He is doing the exact same thing in the states, Funny how Trump picks on other countries but its OK for one of his buddies to get rid of American jobs.
    • Report Post
  • craftsman
    • Sears Canada

      Hopefully they get some money from the person who drove it into the ground. 600 million might have saved the company.
      600 million would have kept Sears going a little longer but it was going to bankrupt sooner or later. Sears Canada had a operating loss of $422 million for 2016. 2015 was a operating loss of $298 million. The business model wasn't working and many of it's customers had already abandoned the company. They would have needed to gain a lot of new customers to bring it back to being profitable but how likely is it that they would have achieved that? Most people chose not to shop at Sears, it wasn't like they didn't know who Sears was.
      There's a bit of misunderstanding here... the $600 Million was the total of two payments made back in 2012/13 which given the time frame involved may have been enough to put together a turn around play. You have to remember that the losses of $422 million and $298 million was a direct result of not having the funds and the resources to act earlier (ie in this case years earlier). I'm not saying that the outcomes would have been drastically different... what I'm saying is that there would have been a possibility of a drastically different outcome. Without that money, there was no chance of a different outcome.
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  • craftsman
    • Um yeah, I think that's what they're saying about the American Sears/Kmart now. It's alive for a little longer, but how much longer?
      For as long as it takes Eddie Lambert to squeeze the last bit of money out of the once popular company....
    • Report Post
  • playnicee1
    • 600 million would have kept Sears going a little longer but it was going to bankrupt sooner or later.
      Um yeah, I think that's what they're saying about the American Sears/Kmart now. It's alive for a little longer, but how much longer?
    • Report Post
  • Simby
    • Sears Canada

      Hopefully they get some money from the person who drove it into the ground. 600 million might have saved the company.
      600 million would have kept Sears going a little longer but it was going to bankrupt sooner or later. Sears Canada had a operating loss of $422 million for 2016. 2015 was a operating loss of $298 million. The business model wasn't working and many of it's customers had already abandoned the company. They would have needed to gain a lot of new customers to bring it back to being profitable but how likely is it that they would have achieved that? Most people chose not to shop at Sears, it wasn't like they didn't know who Sears was.
    • Report Post
  • webshark
    • Sears Canada

      Hopefully they get some money from the person who drove it into the ground. 600 million might have saved the company.
    • Report Post
  • playnicee1
  • tk1000
    • Saying goodbye to Sears: Is a tarnished legacy left behind?
      Retail Advisors Network co-founder Bruce Winder says retail is not dead, it's just changing and becoming more experiential with online.

      https://youtu.be/LxyJHlzkKLk
    • Report Post
  • playnicee1
  • alexfires
    • You would need to see with the manufacturer of your product
    • Report Post
  • runeash
    • Anyone able to get money back from the extended warranty which I assume sears no longer honors
    • Report Post
  • alexfires
    • I hope I can score good deal on the stuff
    • Report Post
  • adams7
    • I got a replacement blade for my Craftsman lawn mower. It was about $7, they are $20 to $25 regular marked price and at Cdn Tire. Atlas brand 21" mulching blade, fits many brands of mowers.

      That will be my last Sears purchase. But I still wear sweaters and Rockport shoes I got there years ago and regularly use my Craftsman table saw and socket wrenches. End of an era.

      The local mall will have an empty Target on one end and an empty Sears on the other end, but the smaller stores in the middle are still doing OK, the most successful is London Drugs.
    • Report Post
  • playnicee1
    • Thank you very much
      No Problem! Also, $2 underwear if you snatch it up with no packaging. (look for a table bin with a bunch of underwear thrown there)
      I was lucky enough to find Jockey underwear in my size.
      Know your size though. All sales final, and no trying on underwear. lol
    • Report Post
  • alexfires
    • Thank you very much
    • Report Post
  • playnicee1
    • What's the sale price now ?
      60-80% off. Sears Scarborough is also gone in 7 or 8 days. All Sears will be gone by January 7th. (excluding locations remaining open an extra day or two to sell store fixtures)

      As I mentioned in another thread: Clothing tip: If you can find a red sticker GRAB IT!! It's clothing that Sears previously reduced before the Hilco liquidation.
      Extra 60% off the already reduced red sticker price. (ie a $50 sweater reduced to $34.99 is now $14!!)
    • Report Post
  • alexfires
    • What's the sale price now ?
    • Report Post
  • cslusarc
    • SEARS POLO PARK in Winnipeg is set to close in 8 (eight) days.
    • Report Post
  • alexfires
    • Do you know if there any irobot or anything like that ?
    • Report Post
  • alexfires
    • Does someone know when the st-Bruno location ,Qc close or if it still open ?
      😊
    • Report Post
  • playnicee1
    • The discount pattern seems to be deeper discounts every Thursday.
    • Report Post
  • EastGTARedFlagger
    • Which Sears store in the GTA has the most mens clothing remaining or recieves the most as stores close down?
      Pickering Town Centre is quite well stocked with everything, there are no roped-off areas or empty displays yet. Lots of men's clothing (still 20-30% off the artificially high MSRP's), and a LOT of luggage (60% off the ridiculously high MSRP's - you can't touch a small rolling case for under $120). It probably receives unsold stock from stores that closed early -- the amount of luggage (the field of which spreads out into where cosmetics used to be!) suggests that.
    • Report Post
  • MoneyHypeMike
    • Anyone spotted any LEGO?
    • Report Post
  • alexfires
    • Good and If you have time to check the deal % it would be appreciated.
      Thanks
    • Report Post
  • thedealhunter2000
    • Do you know the brand because petro diesnn't mean nothing for me ?
      Thanks
      Just got your message. Was at Fairview Mall about 2hrs before closing. I did check the snowblowers as I remembered your request for an electric snowblower but of all the snowblowers I gave a quick glance at, as far as I know they are all petro fueled.

      Sorry I didn't take note of the brands as I was with my dad who was grumpy as he was getting hungry. If I go again I will snap a photo for you if I remember.

      Off the top of my head there were about 6-8 snowblowers left. Approx 24-36" openings.
    • Report Post
  • alexfires
    • Do you know the brand because petro diesnn't mean nothing for me ?
      Thanks
    • Report Post
  • alexfires
    • Thanks
      Do you know what was the % of deal ?
    • Report Post
  • thedealhunter2000
    • Does anybody saw an electric lawn mower and an a electric snowblower at any sears ?
      I took a guess
      Thanks
      Think I saw an electric snowblower at Fairview Mall last week. I do know there are like 6 petro powered large snowblowers there.
    • Report Post
  • thedealhunter2000
    • Which Sears store in the GTA has the most mens clothing remaining or recieves the most as stores close down?

      I'm going more for nostalgia as I like the R&R and Nevada zip off 6 pocket classic cargo pants. Looking for some more and the only reason I am going. Price isn't really concern for me unless they want $60/pair. I remember them being approx $20/pair.

      Looking for 34/32. Anyone seen any? Many thanks in advance.
    • Report Post
  • alexfires
    • Does anybody saw an electric lawn mower and an a electric snowblower at any sears ?
      I took a guess
      Thanks
    • Report Post
  • Mrsleah
    • Are they still selling batteries?
    • Report Post