A Sears Canada outlet is seen Tuesday, June 13, 2017 in Saint-Eustache, Que. Sears Canada says its remaining stores will close their doors for good today. The long-time staple of Canada’s retail landscape declared bankruptcy last year and announced in the fall that it would liquidate its remaining stores and lay off thousands of employees.THE CANADIAN PRESS/Ryan Remiorz

Sears Canada closes its final stores

The long-time staple of Canada’s retail landscape declared bankruptcy last year

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.

Related: Sears Canada shutters final stores after months-long liquidation

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.

Related: Sears liquidation sales continue across B.C.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

Greyhound cleared to end routes in northern B.C., Vancouver Island

Company says nine routes have dropped 30% in ridership in last five years

BC Budget’s Top 10 promises the North Coast will care about

BC Ferry fare reductions, Indigenous language investments, rent support for seniors

B.C. BUDGET: Fare freeze, free travel for seniors on BC Ferries

A complete fare freeze will be put into place on major routes, and fares will be rolled back on smaller routes by 15 per cent

BC BUDGET: New spaces a step to universal child care

Fees reduced for licensed daycare operators

BC BUDGET: NDP cracks down on speculators, hidden ownership

Foreign buyers’ tax extended to Fraser Valley, Okanagan, Vancouver Island

Therapy dogs make appearance at B.C. Games

The St. John’s Ambulance therapy dog program launches a pilot project at the 2018 Kamloops B.C. Winter Games

How to keep local news visible in your Facebook feed

Facebook has changed the news feed to emphasize personal connections. You might see less news.

Sticking the landing at the B.C. Games

Gymnasts talk competition, B.C. Winter Games, and teamwork in Kamloops

$153M in federal cash to fund child care, education training in B.C.

Bilateral agreement will create 1,370 new infant and toddler spaces

A B.C. woman talks her life in the sex trade

A view into the life from one Kelowna prostitute and the issues it can cause for women

Twitter feed prays for — instead of preying on — B.C. MLAs

Non-partisan Christian group wants to support politicians through personalized prayer

Mills Memorial Hospital financing formula released

Regional taxpayers to pay $113.7 million for new facility.

Hundreds march for justice in death of Winnipeg teen

Tina Fontaine was pulled from a river in 2014, her body wrapped in a blanket and weighed down by rocks

Most Read