Only a few more days until the Sears store at the Cataraqui Centre closes its doors for good in Kingston.
After 65 years of being in the retail business, Sears stores across Canada are shutting their doors.
The retailer was approved by court in October to liquidate its stores.
Sears Canada has eight home stores, 49 hometown stores and 74 full department stores that are facing closures.
With the large retail chain closing shop and leaving two levels of empty space at the Cataraqui Centre, which store will be moving in next?
Get breaking National news
CKWS spoke with Primaris Management Inc., the company that owns Cataraqui Centre which said, “We have been working on replacement options, however, we are not prepared to discuss our plans at this time.”
The closure of Sears stores across Canada means job cuts. Close to 12,000 jobs — which three-quarters are part-time positions — will be diminished.
Employment lawyer Sunira Chaudri says, “Because Sears is winding up, employees are not secured creditors when it comes to a bankruptcy so most are going to be placed at the back of the line — the best idea is to look for work as quick as you can.”
So what went wrong? Why is Sears Canada liquidating all of its stores?
Ken Wong, a faculty member in the marketing and strategy stream at Queen’s University had a take on Sears’ current state.
“If you think of a department store, there are three things that could distinguish you. The products you carry, the service you offer and the store atmospheric or ambiance that you provide, and Sears didn’t have distinction in any of those areas.”
With online shopping at its peak, close to 80 per cent of Canadians make at least one purchase online a year. Did this boost in e-commerce have anything to do with Sears calling for bankruptcy?
“Those elements just drove home the final nail, the real problem Sears was facing, they were facing long before e-commerce became popular as it has,” Wong said.
The Sears location at the Cataraqui Centre will be shutting its doors for good on Monday.
Comments