Sears Canada liquidation

Once a retail giant, Sears Canada is now closing nearly 60 of it’s locations. On Friday dozens of those stores began liquidation sales.

Sears Canada says prices will be discounted by 20% to 50% but at the Ancaster location, discounts tapped out at 40% off.

Mandeep Malik of the DeGroote School of Business say he’s not surprised. “We know from the target example a few years ago that the deals were not as good as people thought, especially initially.”

Sears liquidation sales are being held at 54 locations across the country and are being run by a joint venture group. They expect to finish the liquidation sales by October 12th and hopes to complete its restructuring at some point later this year.