A part of Canada's retail history comes to an end this weekend with the closing of Eaton's stores across the country.

Sears hopes to buy some of the stores next month, including the flagship store in downtown Toronto, but for now the Eaton Centre store and 40 others are closing their doors. Already 17 have been shut.

Toronto mayor Mel Lastman says he feels badly that the chain is going out of business. "It's a very sad thing that Eaton's stores are closing. Eaton's stores are a Canadian Institution."

But it is an institution that has lost $430 million and is laying off 13,000 employees. "I'm going to miss it, I really am," said long-time Eaton's customer Jennifer Drucker. "I always came here. It's close to home. It's just going to be sad to see it go."

Sears plans to purchase up to 19 stores. But first it must get approval from Eaton's shareholders and creditors.

Under the proposed restructuring, Eaton's shareholders would receive $20 million. The Eaton family owns more than half the company's common shares and stands to make about $11 million.

Shareholders will vote on the Sears offer in mid-November.