Sears liquidation sales begin at 54 stores

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TORONTO – The liquidation sales at 54 Sears Canada Inc. locations began Friday, a process the company hopes will help it emerge from creditor protection later this year.

The process includes 20 full-line, 15 Sears Home, 10 Outlet and nine Hometown locations in every province except Prince Edward Island.

The sales are being run by a joint venture group including Hilco Global, Gordon Brothers, Tiger Capital Group and Great American Group.

The group says fixtures, furnishings and equipment in the closing stores are up for sale in addition to the merchandise.

Sears Canada, which is operating under court protection from creditors, says discounts range between 20 to 50 per cent off.

The retailer has announced plans to close 59 locations in all and cut about 2,900 jobs as part of its restructuring plan.

3 COMMENTS

  1. I will not be shopping there along with many others who are not willing to support a major corporation that is hurting so many – long term employees with 30 years being terminated without pay – pensions at risk or gone. They have money to “rebrand” and money to give their execs bonuses but not their hard working employees. As fas as I’m concerned they’ve destroyed any goodwill they had with the consumer.

  2. no kidding ted, I hope theres not to many more like that clown on ctv saying buying cheap shirts at a store closing is helping the employees. Somehow I dont think so though, plenty of people like sears’ upper management will kick people under the bus for a bonus and some will for a $10 shirt.

  3. Why does the word sale make women go into a frenzy? (like today in Sears)
    There is nothing to race there for just yet, the prices were so high to begin with that you won’t even notice a 20% reduction. Wait a while until it actually reaches 50% or more.
    They are doing their long time employees an awful injustice, I wouldn’t buy a thing there after hearing this.

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