Sears store in Chatham. July 21, 2017.  (Photo by Paul Pedro)Sears store in Chatham. July 21, 2017. (Photo by Paul Pedro)
London

Sears Liquidation Starts Thursday

From mattresses to refrigerators to clothing, everything must go as Sears Canada prepares to close its doors.

The retailer will begin liquidation sales on Thursday at its 74 full department stores, eight Sears Home Stores, and 49 Sears Hometown stores. The sales are expected to continue for ten to 14 weeks, stretching through the busy holiday season before wrapping up by late-January.

Sears was given court approval last Friday to liquidate its assets and close its remaining stores. The company had been operating under court protection from creditors since June.

Company officials had hoped to find a buyer that would take over the 65-year-old chain, but the search was unsuccessful.

In June, the struggling national retailer closed 20 department store locations, 15 Sears Home stores, ten Sears Outlet, and 14 Sears Hometown locations.The Sears Home store in London and the Sears store in Chatham were among those slated for closure. Last month, Sears Canada announced it would close an additional ten stores.

The decision to shut down puts approximately 12,000 people out of work.

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