Lime Ridge Mall Sears location is closing, among 11 others
CBC News | Posted: October 2, 2017 8:26 PM | Last Updated: October 2, 2017
MPP Paul Miller said the province needs to do more to protect pensions
The Sears in Hamilton's Lime Ridge Mall will be closing.
Sears Canada announced on Sept. 29 that it will close an additional 10 full-line Sears stores across Canada and one Sears Home store. A Sears Home location in Ancaster, Ont. was on an initial list of 59 stores announced in June.
The company is seeking creditor protection until Nov. 7, and will be in court Wednesday.
Five companies have claimed construction liens of about $1.4 million on the Sears property in Lime Ridge Mall.
In total, Sears Canada estimated in a news release the 11 locations employ about 1,200 people.
Paul Miller, East Stoney Creek MPP, expressed his concern about pensions for employees at the Hamilton and other Sears locations during question period at Queen's Park on Monday.
"The lack of pension protection in this province is unacceptable," Miller said. He argued the Liberal government's plan to raise the maximum guaranteed pension payment from $1,000 to $1,500 is not enough.
"While today it may be Sears, tomorrow it will be another company," he added.
Charles Sousa, Ontario's Minister of Finance, responded that 90 per cent of the Sears employees, if affected, will be fully covered as a result of the pension guarantee.