sears canada

Sears Canada closing all stores and going out of business

After more than 65 years in business, one of Canada's most iconic department stores is shutting its doors for good.

Sears Canada announced today that it's applying for court approval to liquidate all of its remaining assets and stores by mid October.

This comes just a week after Sears announced they were closing more of their Toronto stores.

The beleaguered retailer had been seeking a buyer since June, when it filed for creditor protection, but according to the release "no viable transaction for the company to continue as a going concern was received."

A court hearing is scheduled for Friday. If the liquidation is approved, Sears will start a "wind-down" of all business on Oct. 19.

Lead photo by

Mike Kalasnik


Join the conversation Load comments

Latest in City

Toronto ranked 2nd most expensive city in Canada but not high on world list

There's a new TTC station coming to the ferry docks and here's what it will look like

People in Toronto are furious about the eviction of homeless campers from Trinity Bellwoods

Here's what the latest plans for Toronto's new Waterfront LRT line look like

Man arrested with large butcher's knife outside Premier Doug Ford's home

Toronto police announce biggest drug bust in the force's history with Project Brisa

Toronto was in awe at last night's sunset and the photos are absolutely spectacular

Toronto is removing people from homeless encampments in Trinity Bellwoods Park