TORONTO – Bad news for local Sears employees today. The Regina distribution centre will be closing its doors next year leaving 276 people out of work.
The company plans to replace the centre with a new facility in Calgary that would support its online and catalogue business.
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It’s not just the Regina location taking the hit; Sears is selling the leases on five of its department stores across the country, including their flagship location in the Toronto Eaton Centre.
The deal will net them $400 million and that’s cash flow they say they need in order to revamp operations and stay competitive.
The move will see 12,000 Canadians lose their jobs.
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