Sears Canada to axe 14 Quebec stores as part of nation-wide restructuring
CBC News | Posted: June 22, 2017 3:51 PM | Last Updated: June 23, 2017
Montreal, Laval, Quebec City among locations will that shut down as part of chain's restructuring
Sears Canada announced Thursday it will close 14 stores in Quebec as it axes dozens of locations across the country.
The closures come after the chain applied for, and was granted, protection from its creditors in order to restructure. The nation-wide closures means the chain will also eliminate 2,900 jobs in both retail and its corporate office in Toronto.
The company's stock has been in a nosedive since the beginning of the year, losing more than 80 per cent of its value.
The decision means 20 full Sears stores, 15 Sears Home Stores, 14 Sears Hometown stores and all 10 outlet stores will shut down across Canada.
The company will close the following Quebec stores:
- Hull (Sears store)
- Chicoutimi (Sears store)
- Saint-Georges de Beauce (Sears store)
- Alma (Sears store)
- Drummondville (Sears store)
- Rimouski (Sears Hometown store)
- Rouyn-Noranda (Sears Hometown store)
- Saint-Eustache (Outlet store)
- Montreal Place Vertu (Outlet store)
- Sorel (Outlet store)
- Saint-Bruno (Sears Home)
- Laval (Sears Home)
- Quebec City (Sears Home)
- Sainte-Foy (Sears Home)
All other Sears locations will remain open, the chain said.
The company has not yet announced when the stores will close.