A major department store chain has decided it wants to liquidate all of its Canadian locations.
Sears Canada is seeking court approval to go out-of-business after struggling to find a buyer since June 22nd.
If approved, all 59 stores, including the one in the Pine Centre Mall would start sales on October 19th, and would continue for up to 14 weeks.
Pine Centre Marketing Director Jessica Brown says they’re disappointed with the announcement, but adds there are some positives.
“Consumers from another retailer in the space, or it could result in an opportunity for redevelopment and re-merchandising. We’ll work to identify the best opportunities and communicate our plan when we can.”
Nearly 12,000 jobs are expected to be lost pending the court’s approval.
The first Sears in Canada opened in Ontario in 1953.
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