Looks like Sears Canada is gonna die

[bizaro86]

Originally Posted by Anduril

I knew that Sears had struggled to make the transition to accommodating the modern shopper but the sheer ineptitude was surprising.

Nevermind that they don't email you when an online order is shipped, out of stock or cancelled (and if they do its weeks later).

Or maybe just ignore the fact that when it's delivered to a pickup location, zero notification will be made.

It's probably seeing the use of paper, pen and hand written notes to keep track of which orders have arrived and/or been picked up that's just shown me the reality of just how far behind they are.

My wife bought an appliance we needed for a rental at Sears. It took 2 hours to process the order by hand, and we have 2 of the 5 carbon copies in our file for taxes. She was pissed off enough to say she'd never go there again due to the waste of her time, but Sears also paid someone to stand there filling out paper by hand, multiple times. Shocking that didn't work out for them.

The next time we needed an appliance, we went back to Coast Wholesale. Took less than 3 minutes on the phone. My receipt came via this newfangled technology called email.

[getbak]

Originally Posted by Hack&Lube

What was the grocery store @ Market? My childhood memory says "Food Floor" or something like that. Was that part of Woodwards?

The Woodward's Food Floor, which later became the Woodward's World of Food.

When Woodward's was in its death spiral, the first thing they sold off was their grocery stores, to Safeway. Then, they later sold off their main stores to HBC.

It's not as obvious now, but you could always tell a former Woodward's store when you went into a mall and there was a Bay/Zellers store with a nearby Safeway store (often a shared or adjacent entrance). Chinook was like that until they closed the Safeway to build the theatres.

[wireframe]

I need to replace my hot water heater in the next year or two. problem is that I know nothing about water heaters. Do you guys think it's a good idea to try to buy one at the Sears liquidation sale?

[Johnny Makarov]

Originally Posted by wireframe

I need to replace my hot water heater in the next year or two. problem is that I know nothing about water heaters. Do you guys think it's a good idea to try to buy one at the Sears liquidation sale?

I don't think they sell those. You have to goto Home Depot or Rona or Lowes for that. Even then would you want to buy one without a warranty to save 15-20%?

[zamler]

Hot water heater.

[Johnny Makarov]

Originally Posted by zamler

Hot water heater.

Sorry. Cannot read today. It's almost the same kinda thing...

[Kybosh]

I would recommend you have a professional provide and install a water heater and remove the old one. It's worth it.

[GioforPM]

Originally Posted by Fire

They need to give out retention bonuses to managers or things will go to #### with people leaving for new jobs.

I don't know the law regarding severances for companies going bankrupt. Maybe they are not allowed to give severance if they owe money to creditors?

Yeah, in a straight liquidation insolvency, which is where this is heading, severance is not a priority claim. The employees will fall behind secured creditors, various government claims, etc.

If there is any money for unsecured creditors, those employees will get a piece of it, but only cents on the dollar.

[Wormius]

If the Sears in Canada were just limping along but not in any kind of serious debt, would the the proceeds of the liquidation go to paying off foreign creditors, or are the two divisions completely separate?

[GioforPM]

Originally Posted by Wormius

If the Sears in Canada were just limping along but not in any kind of serious debt, would the the proceeds of the liquidation go to paying off foreign creditors, or are the two divisions completely separate?

Only if they guaranteed the foreign debt and gave security for the guarantees. Which they likely did. It was probably all cross-collateralized.

[Hack&Lube]

Originally Posted by Wormius

If the Sears in Canada were just limping along but not in any kind of serious debt, would the the proceeds of the liquidation go to paying off foreign creditors, or are the two divisions completely separate?

Sears Holdings in the US owns 51% of Sears Canada so it's tough to say.

[GioforPM]

Originally Posted by Hack&Lube

Sears Holdings in the US owns 51% of Sears Canada so it's tough to say.

That doesn't matter - what matters is if Sears Canada obligated itself to pay Sears' Holdings' debts. I bet they did. The affidavit filed with the Initial Order in the CCAA case will say.

[prarieboy]

Does anyone know if Sears North Hill still carries tools? I was thinking of picking up some Socket Sets and Screw Drivers for my kids.

[zamler]

Originally Posted by prarieboy

Does anyone know if Sears North Hill still carries tools? I was thinking of picking up some Socket Sets and Screw Drivers for my kids.

Was there about 6 months ago the shelves were nearly empty. What they did have was complete crap Sears tools have become the worst of the worst.

[bigtmac19]

A friend of mine bought a new stove there about 3 months ago, and paid for the extended warranty. She should have known better, since they were already in a bad place at that time. I wonder if any company will step up to honour those contracts.

[Lubicon]

Originally Posted by bigtmac19

A friend of mine bought a new stove there about 3 months ago, and paid for the extended warranty. She should have known better, since they were already in a bad place at that time. I wonder if any company will step up to honour those contracts.

Nope.

(Edit). Won't be honored by Sears.

https://globalnews.ca/news/3810924/s...nded-warranty/

[Johnny Makarov]

I haven't seen so many people at North Hill Sears since I was 10. Wished the cafeteria was open for fries and gravy.

[lazypucker]

I bought a Nespresso machine from the North Hill Sears last Christmas, and the sample coffee pods included were expired for more than a year... This tells me how slow their inventory has been moving...

[Looch City]

Is this like Target-esk liquidation (i.e. jack up prices and put them on "sale")?

[bigtmac19]

I was in my Sears store on the 10th, before the announcement, and it was clear the store wasn't going to last. The whole place looked junky, they had the upper floor closed and everything from there was stuffed onto the main floor, you could barely get around. The prices were certainly not discount though, it was ridiculous.