Shopping Discussion

NEWS: Sears Canada to close ALL remaining locations effective mid-October

Deal Expert
Feb 9, 2012
21708 posts
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Toronto
Simby wrote: 600 million would have kept Sears going a little longer but it was going to bankrupt sooner or later.
Um yeah, I think that's what they're saying about the American Sears/Kmart now. It's alive for a little longer, but how much longer?
If it ain't broke, don't fix it!
Deal Expert
Jan 27, 2006
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Vancouver, BC
playnicee1 wrote: Um yeah, I think that's what they're saying about the American Sears/Kmart now. It's alive for a little longer, but how much longer?
For as long as it takes Eddie Lambert to squeeze the last bit of money out of the once popular company....
Deal Expert
Jan 27, 2006
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webshark wrote: Sears Canada

Hopefully they get some money from the person who drove it into the ground. 600 million might have saved the company.
Simby wrote: 600 million would have kept Sears going a little longer but it was going to bankrupt sooner or later. Sears Canada had a operating loss of $422 million for 2016. 2015 was a operating loss of $298 million. The business model wasn't working and many of it's customers had already abandoned the company. They would have needed to gain a lot of new customers to bring it back to being profitable but how likely is it that they would have achieved that? Most people chose not to shop at Sears, it wasn't like they didn't know who Sears was.
There's a bit of misunderstanding here... the $600 Million was the total of two payments made back in 2012/13 which given the time frame involved may have been enough to put together a turn around play. You have to remember that the losses of $422 million and $298 million was a direct result of not having the funds and the resources to act earlier (ie in this case years earlier). I'm not saying that the outcomes would have been drastically different... what I'm saying is that there would have been a possibility of a drastically different outcome. Without that money, there was no chance of a different outcome.
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May 22, 2016
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Ontario
If they had invested that money which came from the sale of the best stores in 2013 they might have turned it around. The American owner stripped it down and sold it instead of trying to make it profitable. He even cancelled a deal with Amazon. He is doing the exact same thing in the states, Funny how Trump picks on other countries but its OK for one of his buddies to get rid of American jobs.
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Feb 9, 2012
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Store fixtures anyone? Some Sears stores still selling until Jan. 26th...

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If it ain't broke, don't fix it!
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Dec 6, 2005
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St. John's
Any word of discount stores buying up warehouse stock? When Target went under a lot of Target products started turning up at Dollarama and other stores. Anything to suggest anything similar with leftover Sears stock?
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Jan 27, 2006
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Chew300ZX wrote: Any word of discount stores buying up warehouse stock? When Target went under a lot of Target products started turning up at Dollarama and other stores. Anything to suggest anything similar with leftover Sears stock?
I would doubt that they would have much warehouse stock left. The Sears sale went pretty fast so I would have guessed that they moved all of the stock from their warehouses long ago and shut them down first.
Deal Expert
Feb 9, 2012
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Chew300ZX wrote: Any word of discount stores buying up warehouse stock? When Target went under a lot of Target products started turning up at Dollarama and other stores. Anything to suggest anything similar with leftover Sears stock?
BOBBY'S OUTLET: https://bobbysliquidation.com/ is where a lot of the Sears inventory that was intended to go to a Sears store can be found. Leftover unsold Sears inventory is expected to be dumped off there also...
If it ain't broke, don't fix it!
Deal Expert
Jan 27, 2006
21844 posts
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Vancouver, BC
playnicee1 wrote: BOBBY'S OUTLET: https://bobbysliquidation.com/ is where a lot of the Sears inventory that was intended to go to a Sears store can be found. Leftover unsold Sears inventory is expected to be dumped off there also...
That's stock is probably from one of Sears former suppliers which supplied Sears branded product. They were lucky that the stuff didn't make it to Sears or they would have gotten nothing for it.
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Feb 9, 2012
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craftsman wrote: That's stock is probably from one of Sears former suppliers which supplied Sears branded product. They were lucky that the stuff didn't make it to Sears or they would have gotten nothing for it.
I thought Hilco worked something out with the suppliers (that had inventory already in Sears) so that instead of getting nothing, they would get a bit more than just pennies, which, indeed may as well be nothing.
If it ain't broke, don't fix it!
Deal Expert
Jan 27, 2006
21844 posts
15619 upvotes
Vancouver, BC
playnicee1 wrote: I thought Hilco worked something out with the suppliers (that had inventory already in Sears) so that instead of getting nothing, they would get a bit more than just pennies, which, indeed may as well be nothing.
Maybe... but after the fiasco of Target's liquidation, if you were a supplier, would you trust them?
Deal Fanatic
Jun 17, 2013
5120 posts
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Montreal
playnicee1 wrote: Store fixtures anyone? Some Sears stores still selling until Jan. 26th...

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some of those locations are horribly wrong lol (the province)

anyways, i picked up a couple things. my local sears cleared it all out for a buck each. it was a nut house in there. grabbed some heavy duty tables and such. amazing deals on high quality stuff
Deal Expert
Feb 9, 2012
21708 posts
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Toronto
neverhaveiever wrote: some of those locations are horribly wrong lol (the province)
Yeah, I was beginning to wonder if the province was listed wrong or if there really is an Oshawa NB etc... Smiling Face With Open Mouth And Smiling Eyes
If it ain't broke, don't fix it!

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