Search results
Results from the WOW.Com Content Network
Sears Canada Inc. was a publicly-traded Canadian company affiliated with the American-based Sears department store chain. In operation from September 18, 1952 until January 14, 2018, and headquartered in Toronto, Ontario, the company began as Simpsons-Sears—a joint venture between the Canadian Simpsons department store chain and the American Sears chain—which operated a national mail order ...
Further closures were then announced: on June 6, 2017, 72 Sears stores, [274] on June 23, 18 Sears and 2 Kmart stores, [275] with more to come per the CEO's blog post. [276] The Canadian subsidiary, Sears Canada, successfully petitioned the courts on October 13, 2017, to allow it to close down the entire organization, including 130 stores, and ...
The latest closures were announced to employees on the same day that Sears Canada, which was spun off from Sears Holdings in 2012, revealed that it would be closing a quarter of its stores — 59 ...
Sears Canada's difficulties continued throughout the 2010s; the company filed for creditor protection in June 2017, [28] forcing it to put all its stores in liquidation by October that year. [29] On January 14, 2018, Sears Canada went out of business and permanently closed all its remaining stores, succumbing to the same fate as Eaton's had 19 ...
The company announced on Thursday it will shutter 20 more storefronts after already selecting 245 stores to close this year.
Even suppliers have been pulling out of one retail chain's stores, as analysts predict the company could declare bankruptcy as soon as next month.
Throughout the 21st century, retail businesses in Canada have felt the pressures of foreign store expansions into the country, as well as a shift towards online retail. As a result, closures have been a mix of stores unique to the nation, as well as newcomers like Target Canada.
Sears Holdings announced in January that it would shut down 150 stores this year, but now the company is closing even more stores.