According to court documents, Sears aims to start the liquidation sales on July 21, winding up the process by Oct. 12.
Most of the Sears stores slated to close will use third-party liquidators Gordon Brothers Canada and Merchant Retail Solutions to carry out the sales.
The exceptions are the Hometown stores, which are independently run and will conduct their own liquidations.
The guidelines do not specify what type of deals Sears will be offering during the liquidation. 20 to 30 per cent is the expected initial discount.
Sears Canada is shuttering 59 locations as part of a court-supervised restructuring. Here’s a list of where the closures are taking place: Continue reading List of 59 Sears store closures throughout the country
Amazon, which has been making a big push into selling clothes, is testing a new service that lets members of its Prime program try on styles before they put items on their charge card — at no upfront fee.
Here’s how it work:
- Customers have seven days to decide what they like, and
- Pay only for what they keep
- Shipments arrive in a re-sealable box with a pre-paid label for returns.
- Customers get 10 per cent off if they keep three or four items, or 20 per cent off for five items or more.
A decade ago, Jeff Bezos said “In order to be a $200 billion company we’ve got to learn how to sell clothes and food.” Amazon is already a $200 billion company, but maybe this will help it get to a trillion.
Shares of Sears Canada (TSX:SCC) fell 22.50 per cent, or 18 cents, to 62 cents on the Toronto Stock Exchange at market close today. Continue reading Sears Canada shares plunge on rumours of bankruptcy
Walmart today announced it has entered an agreement to acquire Continue reading Walmart to Acquire Bonobos
Remember when teens couldn’t get enough of Abercrombie & Fitch? Those days are long gone. CNNMoney’s Paul La Monica explains the dire state of the American mall.
Continue reading Is the mall dead?
Today, Samsung Electronics Canada Inc. announced plans for its sixth, largest, and most immersive Samsung Experience Store in Canada to date, coming this summer to CF Toronto Eaton Centre. The 21,000 sq. ft. innovative space will provide a stunning retail and technology experience, with a full calendar of engaging events and in-store features unlike any other Samsung retail footprint in Canada.
Continue reading Samsung Canada To Transform the Retail Brand Experience
Grafton Fraser Inc., the owner of labels such as Tip Top Tailors, George Richards Big and Tall, Kingsport and other brands, sought and was granted court protection under the Companies Creditors Arrangement Act this week, citing “lower than expected retail sales, increased overhead costs, delays in receipt of seasonal inventory and turnover of key personnel,” in a court filing as reasons for its latest financial difficulties.
Continue reading Tip Top Tailor Files for protection from its’ Creditors
Amazon.com.ca Inc. (Amazon) will pay a $1 million penalty and $100,000 towards the Competition Bureau’s costs as part of an agreement resolving the Bureau’s concerns with the online retailer’s pricing practices on its Canadian website.
Continue reading Amazon changes pricing practices and pays $1.1 million to settle price advertising case
For the first time Nordstrom is unveiling a three-part shop in its series of pop-up shops, aptly titled KPOP-IN@Nordstrom, featuring the exciting and vibrant cultures of Korean fashion and beauty.
Continue reading Olivia Kim Launches Korean-Themed Pop-In Series With Gentle Monster