After Eaton’s, Zellers and several others, Sears closes its doors

Photo: Guillaume Levasseur Duty
The breakthrough of on-line commerce is part of the many factors that contributed to the difficulties of Sears Canada.

The last Sears stores in Canada are closing their doors on Sunday. The large retailer has had to declare bankruptcy last year, and announce in the fall that the liquidation of its 130 stores remaining, leaving its 12, 000 employees without work.

 

The closure of the chain has caused a lot of controversy. First, Sears Canada had chosen to distribute retention bonuses to its executives while the company was faced with a deficit of more than $ 260 million in its pension scheme. Later, the competition Bureau had initiated an investigation into allegations that Sears Canada would have inflated its price before the start of its liquidation sale.

 

In the image of its competitor of the time, Eaton’s, Sears was more than a store for the Canadians, it was an institution, according to several observers. The famous cataloques of the two retailers were always very expected by consumers.

 

The breakthrough of on-line commerce is part of the many factors that contributed to the difficulties of Sears Canada. In addition, discount retailers, including Walmart, have multiplied, and have, forced companies like Sears to reduce their prices.

 

The fate of Sears Canada is a result of several other closures in the past few years, including those of the more recent Target and Zellers.

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