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

VIDEO: This is what buying legal pot in B.C. looks like

Take a look inside B.C.’s first and only legal pot shop located in Kamloops

Pacific Insight to lay off part of workforce

The company says it is transferring automotive production to its Mexico facility

Black belt tests on this week at Kootenay Martial Arts

Grandmaster Brenda Sell returns to assist in testing

UPDATED: Four Nelson marijuana dispensaries to remain open after legalization

Nelson’s police chief has no plans to close them down

Nelson candidates debate climate change at forum

Mayoral and council candidates had the chance to speak on five fictional resolutions

VIDEO: Candidates at Nelson election forum

Mayoral candidates joined 18 council candidates for an evening of very short answers

Manhunt in Crimea for possible accomplice in school attack

An 18-year-old student, who later killed himself, was initially believed to be the only one involved

Police hand out a few hefty fines for allegedly violating Cannabis Act

Police in Canada posted a photo of a $215 ticket given to someone who allegedly had a baggy of marijuana in their car

Great British Columbia ShakeOut earthquake drill reminder

Don’t miss the opportunity to participate in the Great ShakeOut

Jagmeet Singh says marijuana pardons are not enough

Trudeau government will streamline pardon process for Canadians convicted of simple possession of marijuana in the past

BC Ferries begins taking debit in two-month pilot project

Company is giving customers option to use Interac on two-month trial on select vessels

Caregivers banned from smoking, growing cannabis around children-in-care: MCFD

Ministry has limited cannabis use for caregivers, stating it may “pose a risk to children and youth.”

Cheaper strains sell out within minutes on online BC Cannabis Store

Province says new strains will become available in the coming months

Most Read