#GlobalNews: “Sears Canada liquidation sales could start July 21 – National”
Liquidation sales at the 59 store locations Sears Canada has designated for closure could begin as early as next week. But just don’t call them “liquidations.”
The retailer doesn’t want the sales to be advertised using the words “liquidation,” “bankruptcy,” or “going out of business,” according to a legal motion it submitted. (Permitted language includes “everything on sale” and “everything must go.”)
The clearance process will kick off July 21 and end no later than Oct. 12, pending court approval of the motion.
READ MORE: Sears Canada reaches compromise over pension payments, health benefits as company restructures
The document also says “conspicuous signs” are to be posted at cash register areas advising shoppers that all sales are “final.” Customers with questions or complaints will be able to call a hotline number.
Sears Canada announced on June 22 it was seeking creditor protection, with plans to cut about 2,900 jobs and shutter 59 stores across Canada.
READ MORE: 2,900 Sears Canada employees won’t receive severance after layoff
WATCH: What rights do Sears employees have?
The Ontario Superior Court of Justice might hear the company’s motion on liquidations today, along with a slew of other motions related to its insolvency proceedings.
A court-appointed monitor said that the retailer, its lenders and lawyers for employees have reached a compromise that could allow the company to continue paying certain health benefits and special pension payments up to the end of September.
Earlier this month, Sears had asked permission to immediately stop funding the deficit in its defined-benefits pension plan and halt certain post-retirement benefits payments.
READ MORE: Sears Canada files motion to suspend retiree benefits
Sears warranties on products like mattresses and appliances will remain valid, the company previously told Global News.
READ MORE: What Sears Canada’s case says about how safe your retirement benefits are
Here are the 59 locations slated for closure and where liquidations are planned:
Sears full-line stores:
Medicine Hat, Alta.
Grande Prairie, Alta.
Red Deer Relocation, Alta.
Kamloops Aberdeen Mall, B.C.
Saint John, N.B.
Corner Brook, N.L.
Truro Mall, N.S.
Sault Ste. Marie, Ont.
St. Georges de Beauce, Que.
Moose Jaw, Sask.
Prince Albert, Sask.
Cold Lake, Alta.
St. Albert, Alta.
Spruce Grove, Alta.
Ft. McMurray, Alta.
Sherwood Park, Alta.
Grand Forks, B.C.
Abbotsford Retail, B.C.
Winnipeg Garden City, Man.
Halifax Outlet, N.S.
St. Eustache, Que.
Montreal Place Vertu, Que.
Sears Home stores:
Edmonton Skyview, Alta.
Ottawa East, Ont.
St. Bruno, Que.
Quebec City, Que.
Ste. Foy, Que.
– with a file from the Canadian Press
Note: “Previously Published on: 13 July 2017 | 4:48 pm, as ‘Sears Canada liquidation sales could start July 21 – National’ on GLOBALNEWS CANADA. Here is a source link for the Article’s Image(s) and Content”.