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Sears Canada Inc. was a publicly-traded Canadian company affiliated with the American-based Sears department store chain. In operation from 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 business and ...
Sears Canada's difficulties continued throughout the 2010s; the company filed for creditor protection in June 2017, forcing it to put all its stores in liquidation by October that year. 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 years earlier.
List of Canadian retail closures (21st century) 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 .
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 ...
December 10, 2023 at 2:30 AM. To the casual shopper, Sears, one of America’s oldest retailers, may appear to be on life support. The department store chain that once reinvented how Americans ...
Shoshy Ciment. Sears is closing 26 more Sears and Kmart stores in the US in October, a press release from the retailers' parent company said on Tuesday. Included in the closures are 21 Sears and ...
Further closures were then announced: on June 6, 2017, 72 Sears stores, on June 23, 18 Sears and 2 Kmart stores, with more to come per the CEO's blog post. 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 liquidate all its ...
Sears Holdings owned 51 percent of Sears Canada, a large department store chain in Canada similar to the U.S. stores. At one point it owned as much as 92% of the Canadian company, but it failed in 2006 to buy the remainder of Sears Canada that it did not own because Bill Ackman took a 17.3 percent stake in it and prevented any takeover. He ...