BUSINESS

Sears Canada Liquidation Sales Leave Some Unimpressed

Last chance to shop at what will soon be a part of Canadian retail history.

10/19/2017 12:36 EDT | Updated 10/19/2017 21:39 EDT
Mark Blinch/Reuters
A woman takes an escalator to a Sears store in Mississauga, Ont., Oct. 6, 2017. Sears Canada began liquidation sales Thursday at its stores across the country as it prepares to shut its doors for good after 65 years.

TORONTO Sears Canada began its liquidation sales at its remaining stores across the country Thursday, but many shoppers found the deals to be underwhelming.

While signs suggested discounts of 20 to 50 per cent off with a note that exceptions apply relatively few items at a Toronto store appeared to be offered at half off. Some big ticket items such as snowblowers and treadmills were only 10 per cent off.

"For a close-out deal, I would have thought the sale would be a bit higher. And maybe it will be, as closing time approaches. And maybe by that time everything will be gone!'' said 86-year-old Madeline Cameron, who said she had been shopping at Sears for 60 or 70 years.

After looking at the dozens of shoppers braving long, slow check-out lines she decided to leave without buying anything.

"I can't stand in lineups for a long time ... I might come early tomorrow morning. I'd say the lineups are maybe half an hour, an hour long.''

A joint-venture group which includes Hilco Global, Gordon Brothers Canada, Tiger Capital Group and Great American Group is running the liquidation sales at 74 remaining department stores and eight Home stores, a step towards Sears Canada closing its doors for good after 65 years in business.

THE CANADIAN PRESS/Nathan Denette
Shoppers enter and leave a Sears store in Toronto on Thursday, October 19. The company began its liquidation sales Thursday across the country as it prepares to shut its doors for good after 65 years.

"It's rather sad. Sears could always be counted on to be a good competitor, and certainly I think the Kenmore brand is very reliable, and has been a staple in the Canadian market. It's going to be a loss,'' said shopper Karen Ottmann.

Discounts are available on all Sears's own brands, including Kenmore, as well as brand name men's and women's apparel, and a variety of other categories including home decor, toys, furniture, and major appliances.

"Selected fixtures, furnishings and equipment in the closing stores will also be for sale,'' said the joint-venture group.

Sears Canada gift cards will be honoured throughout the sale as well, the group said. However, Sears Canada stopped honouring extended warranties as of Wednesday.

"It's nasty, what happened here ... I'm not happy about it. Neighbours of mine have extended warranties on appliances, so that's going to hurt them,'' said shopper Joan Challis.

"The employees and the public, they're all going to lose out. But head office, management, they're not going to lose out, I don't think. I think they'll end out coming out fairly clean.''

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Liquidation sales at 49 Sears Hometown stores were expected to start Thursday, or sometime soon, but discounts there will vary, according to Sears Canada spokesman Joel Shaffer.

Some items are also listed for clearance on the Sears Canada website, including a four-piece outdoor furniture set discounted from $499.99 to $299.95. However, not everything online has been marked down just yet.

The sales are expected to last from 10 to 14 weeks. Sears Canada timed its liquidation sales to take advantage of the busy holiday shopping season to maximize the value it could attain for the inventory.

The retailer has been in creditor protection since June, but was unable to find a buyer which would allow it to keep operating.

Sears Canada received court approval to proceed with its liquidation sales last week. A group led by its executive chairman Brandon Stranzl had been in weeks-long discussions with Sears Canada to purchase the retailer and continue to operate it. However, no deal was reached.

Stranzl resigned from Sears Canada's board of directors on Monday.

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