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

Thunderstorm Watch for Sylvan Lake and Eckville areas

Environment Canada issued the watch just before 1 p.m. on June 22

Sylvan Lake Legion honours the memory of past president

A new podium at the Legion was dedicated to Steve Dills at a recent meeting

Canada’s Gospel Music Celebration arrives July 12-14

Several bands to be featured at the popular annual event

Marijuana to be legal in Canada Oct. 17: Trudeau

Prime Minister made the announcement during question period in the House of Commons

Court full as schools, parents dispute Alberta gay-straight alliance law

Justice Centre argues keeping parents out of the loop violates freedom of religion and expression

In reversal, Trump signs executive order to stop family separation

President had been wrongly insisting he had no choice but to separate families apprehended at border

After World Cup lineup photographed, England urges media to help team

Now the England camp is actually asking media: Are you with us or against us?

MISSING: Police hoping to locate man reported missing

Ponoka RCMP looking to public to help find Joseph Desjarlais

Liberals set hiring, procurement rules for federally-funded projects

Indigenous Peoples, recent immigrants, veterans, young people, people with disabilities and women to be hired

Get your hot dog water, only $40 in Vancouver

‘Hot Dog Water’ seller in Vancouver gets laughs, sales with savvy marketing

Privacy questions linger two years after Canada-U.S. terror list deal struck

Two years after Canadian and U.S. security agencies signed an updated agreement officials consider privacy risk

Manitoba MP was allegedly abusive at Red Cross shelter

Canadian Red Cross has filed a complaint that Liberal backbencher MaryAnn Mihychuk ignored protocol

A look at what Canadian teams might do in the 1st round of the NHL draft

Montreal, Ottawa, Vancouver and Edmonton in top 10 of upcoming draft

Koko, the gorilla who knew sign language, dies at 46

Western lowland gorilla, 46, died in her sleep in California

Most Read