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

Victoria Women’s Expo showcases the latest trends

Over 100 vendors feature lots of beauty, health, food, jewelry products and more

Mount Douglas Mathletes enjoying success by the numbers

Saanich Grade 9s walk away with top five spots in Island math competition

Hillside Avenue death ruled a homicide, police say

No charges have yet been laid in the killing of Victoria man Joe Gauthier

Hope gets eight year sentence for Church Avenue sex assault

Eight years is the sentence for David Robert Hope, who was found… Continue reading

Short-term rental market up for changes April 1 in Victoria

Bylaw amendments hike fees, require homeowner’s presence

VIDEO: B.C. Mounties reunite veteran with lost military medals

RCMP say Zora Singh Tatla, who served in the army in India for 28 years, is the righful owner

Over 80s leading Victoria’s fitness charge

Go at your own pace, advises 87 year old gym buff

Federal government seeks public feedback on pedestrian safety

What safety measures do you think need to improved for pedestrians and cyclists?

Experts urging caution as rabbits die by the hundreds in B.C. city

Province of B.C. confirms more positive tests for rabbit haemorrhagic disease

Search continues for 10-year-old Montreal boy missing since Monday

Montreal police said they are exploring every possibility in search for Ariel Jeffrey Kouakou

Airline passenger-rights bill claws back protections for travellers: Advocate

Bill C-49 would double tarmac delays, scrap compensation for flights affected by mechanical failures

VIDEO: ‘New wave’ of anti-pipeline protests return to Trans Mountain facility

About 100 demonstrators with Protect the Inlet marched to the Burnaby terminal Saturday

B.C. man to plead guilty in connection with hit-and-run that killed teen

Jason Gourlay charged with failure to stop at the scene of accident, attempting to obstruct justice

Saanich Talks event kicks off Local Area Plan updates

Updates on plans for Cadboro Bay and Cordova Bay the focus of Wednesday meeting at UVic

Most Read