Sears stores in Canada going bye~bye....

[peteg59]

I don't know about you but I grew up with SEARS and haven't been in one in 3-4 years............ Can United States SEARS be far behind?

Sears Canada — owned by Sears Holdings (SHLD) — announced the company is shuttering all its stores and laying off all employees.

The move comes following a number of years of declining sales happening north of the border that has seen the retailer’s foot traffic decline as more shoppers turn to buying apparel from e-commerce outlets. A total of 12,000 Sears workers will lose their jobs over the coming months.

The chain attempted to resurrect its Canada business through a bid by executive chairman Brandon Stranzl, but was forced into closure after failing to amass the necessary funds to revitalize the store. The first closures will take place at the head office near Dundas Square.

About 800 employees are located in this location and they will be let go next week. Liquidation sales will follow soon after, kicking off on Thursday, Oct. 19 and lasting anywhere from 10 to 14 weeks.

“Following exhaustive efforts, no viable transaction for the company to continue as a going concern was received,” according to a press release from the company issued Tuesday.

“The Company deeply regrets this pending outcome and the resulting loss of jobs and store closures.” Stranzl was not available for comment on Tuesday. His deal would’ve saved thousands of jobs.

Sears has already shuttered 59 stores as part of the closure, while 11 others will be shut down soon.

SHLD stock fell 5.4% Tuesday.

 

[David357]

We lost our local Sears store last year.

I grew up on Sears.

 

[Marc H]

I don't think the US stores are far behind.The merge with K Mart hasn't helped them much in my area.I think all that did was finish off K Mart and drag Sears farther down.

 

[trike lady]

There's a Sears left at the Ohio Valley Mall in St. Clairsville, Ohio. Who know what the future holds for it though.

 

[rhino 2]

Times are changing , And those who don't change with the changing times, Are doomed....Stores don't go out of business because people ''Want'' to shop there... They go out of business because people ''Don't'' want to shop there....

 

[peteg59]

As the article states e-commerce, (interwebs), are killing brick and mortar stores at a rapid pace. Sadly, Sears won't be the last big box chain to fold, IMO.

I just hope we don't live to regret not being able to go into a store anymore, & touch/feel an item of interest.....

 

[trike lady]

The hardest thing to buy over the Internet is shoes and clothing. Unless the have a chart that state this item runs small or large, or true to size. I've had a bad experience with shoes and had to return them twice.

 

[mhgoldwing]

Sear's troubles started long before ecommerce really took off. They made some bad decisions, pretty much dropped customer service, and the quality of many products went downhill. Sear's business model didn't change with the times and they quit doing those things that helped them become a household need for years.

I use to shop Sear's personally and business wise. Stopped 15 years ago because of quality and service issues. Guess a lot of others have done the same.

 

[desertclassic]

We still have a sears, but the 2 K marts have closed.

 

[rhino 2]

Sear's troubles started long before ecommerce really took off. They made some bad decisions, pretty much dropped customer service, and the quality of many products went downhill. Sear's business model didn't change with the times and they quit doing those things that helped them become a household need for years.

I use to shop Sear's personally and business wise. Stopped 15 years ago because of quality and service issues. Guess a lot of others have done the same.

Same here.........

 

[Lee H. Mann]

profound

We still have a sears, but the 2 K marts have closed.

Irony can be quite Ironic.

Sears started selling watches and developed a catalog of bargains in the 1890's.

Today that would equate to the e-commerce that we are becoming more dependent on today.

Showrooms where you can view products and try them on are quickly coming to an end as service is replaced by big savings.

Sears and other retailers are dying by the same sword they were swinging at the beginning.

What goes around comes around.

The beginning of any Industry also marks the End of that Industry.

 

[rhino 2]

Irony can be quite Ironic.

Sears started selling watches and developed a catalog of bargains in the 1890's.

Today that would equate to the e-commerce that we are becoming more dependent on today.

Showrooms where you can view products and try them on are quickly coming to an end as service is replaced by big savings.

Sears and other retailers are dying by the same sword they were swinging at the beginning.

What goes around comes around.

The beginning of any Industry also marks the End of that Industry.

And i'm thinking that back when Sears started with their catalog , The Mom and Pop business of the day were bemoaning the fact that the big bad Sears is trying to put us all out of business...:Shrug:

 

[Jack Klarich]

I worked for Sears all my life

I saw lots of changes

Eddie Lampbert gained control of KMart stock to get ALL of K Mart properties in the begining

Then he leveraged out the stock holders

He tried to buy out ALL the company pensions @ a 1 time pay out @ 80 percent A smart move on his part

I did not cave in

Next Eddie started buying controlling interests in Auto Zone, Auto Nation and Advanced Auto Parts

He would use his own parts on his cars and continue to make huge monies Another smart move

He is now buying back huge blocks of Sears stock to once again inflate the stock- Not working this time

He spun off Craftsman tools for 1 billion dollars and is expected to do the same with Die Hard batteries

He wants to be the next Warren Buffet I dunno about that

Sears as we know it is done I am GLAD I retired when I did

 

[Jack Klarich]

My wife's Die Hard died yesterday

The store I worked at no longer refunds money on batteries

This battery is not 2 years old per their warranty

I was forced to accept an exchange battery

NEVER again, the Die Hard line has gone to crap even tho they are made by East Penn same folks that make HD and Deka batteries

 

[peteg59]

I was forced to accept an exchange battery

NEVER again, the Die Hard line has gone to crap even tho they are made by East Penn same folks that make HD and Deka batteries

What exactly is this "exchange battery" that you speak of?

 

[rhino 2]

What exactly is this "exchange battery" that you speak of?

They give you another new battery to put back in your vehicle.....And depending on how long you had it....Pro-Rated.....Thats the way its been done for time immemorial, Tires are the same......Nothing new about that....:Shrug:

 

[Jack Klarich]

They give you another new battery to put back in your vehicle.....And depending on how long you had it....Pro-Rated.....Thats the way its been done for time immemorial, Tires are the same......Nothing new about that....:Shrug:

Indeed, we had a loaner battery program 4 years

The problem was the folks some times never came back for their battery we were charging and testing

A lot of the loaner batteries were NEW Die Hard Golds

They are 135.00 now in price

My aim was to get a FULL refund like my original reciept said

There was NO pro rata on this battery, it did NOT reach the pro rating before it died

 

[Jack Klarich]

Bad luck with broken Craftsman tools

NOW they want original receipt @ time of purchase to warranty tools

Really? After 35 years working there Now they dont trust me

Never again will I spend a dollar there

 

[Sully]

Yep, back in the day Sears was the place to shop. Kenmore appliance was the brand to get. Craftsmen was the tool and lawn equipment also. Not anymore. The Quality was gone down big time. The tools are no loner made in the USA. Last Craftsmen lawnmower I had lasted about 3 mos before it started falling apart. Stores around the city have closed and only one remains and thats in the mall. All the K-Marts have closed also. Cutting quality and cost results in losing customers.

 

[trike lady]

The K-mart is gone from the Ohio Valley Mall. Tools, might as well go to Harbor Freight.