Sears Canada has received the court approval necessary to proceed with the liquidation of all of its inventory, and sales are expected to start on October 19.
The sales are expected to continue for 10 to 14 weeks.
“Over the past 18 months, Sears Canada had embarked on a reinvention plan that had begun to gain traction with customers. Unfortunately, despite the outstanding efforts of dedicated associates across the Company, Sears Canada does not have the financial resources to provide it with the time necessary to complete its reinvention,” wrote the company in a statement on Monday.
While the sales will begin this week, Sears said it will not be able to honour Sears Protection Agreements to its customers after October 18. The company said that most merchandise normally sold by Sears comes with a one-year manufacturer’s warranty, which will be available to customers directly from the manufacturers as is presently the case.
Meanwhile, refunds on protection agreements will be allowed to customers that have purchased them within the past 30 days per normal procedures, and delivery service will continue to be available until November 30, 2017.
During the liquidation period, the Company will continue to accept Sears gift cards and redeem Sears Club Points but all sales will be final and not returnable or exchangeable.
A list of every Sears location that will be closing can be found here.