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

Belmont Student Voices: Influential teachers, good or bad, play a crucial role

Chances are you’ve had an influential teacher at some point in your… Continue reading

Canada men’s rugby team beats Brazil for it’s first win in the ARC

DTH van der Merwe continues to prove his importance for Canada’s momentum.

Speed skating a family affair for View Royal twins

Kieran and Kyle Brown set to compete in B.C. Winter Games

Hatley Castle 8K takes place this Sunday

Royal Roads race is the fourth in the Vancouver Island Race Series

Grade 11 student gains leadership experience in 4-H club raising goats

Mira Finkelstein enjoys spending time mentoring younger members of the club.

WATCH: Vancouver Island man catches dashcam video of near head-on crash

Video shows oncoming van cross over centre line

Canucks came out hot, beat Bruins 6-1

Loui Eriksson scores twice, catapulting Vancouver to a lopsided victory over Boston

B.C. man brings dog to court as ‘best witness’

Man is defending himself on charges of uttering threats, possessing weapon for dangerous purposes

Vancouver artist’s cartoon of Florida school shooting resonates

Cartoon shows football coach, one of the victims, meeting others killed in school shootings

Trudeau family arrives in India for state visit

Seven-day visit includes meeting with Indian Prime Minister Narendra Modi

Military seeks DNA experts to help ID missing war dead

Federal program recovers, identifies and arranges burials for Canada’s nearly 28,000 missing war dead

B.C. files new legal action against TransMountain pipeline

Province tries to uphold City of Burnaby bylaws, provoking Alberta

BCHL Today: Powell River stuns Vernon and BCHL grads lead Team Canada

BCHL Today is a (near) daily look at what’s going on around the league and the junior A world.

Reports of money laundering in B.C. real estate ‘troubling’: attorney general

News report alleges people connected to fentanyl trade are using B.C. real estate to launder money

Most Read