Sears Canada in trouble

[Tony V.]

well it looks like Sears in Canada may be on the way out like so many other big retailers.
Trying to do a restructure they are going to close 59 smaller stores and have gone into creditor protection.

http://www.ctvnews.ca/canada/full-list-of-59-sears-canada-stores-slated-to-close-1.3471426

 

[phillihp23]

Sounds about right, they been closing stores in the U.S. for a while now.

 

[Tony V.]

I used to always buy craftsman tools from them but they hardly have anything left any more. I still have a craftsman snowblower that runs great.

They have two of the largest Sears stores in Canada here (both stores are 3 floors and almost 250,000sq ft each). I don't know how they stay open as they are not very busy.

 

[phillihp23]

I used to always buy craftsman tools from them but they hardly have anything left any more. I still have a craftsman snowblower that runs great.

They have two of the largest Sears stores in Canada here (both stores are 3 floors and almost 250,000sq ft each). I don't know how they stay open as they are not very busy.

Ya I remember a year or so back I got a memo about craftsman and how the warranty would be covered by some other company. Ya, the Sears here isn't that big, but I believe i know what there business model is. Charge more for the same product, don't worry about quantity of sales, minimum staffing (maybe if your lucky one person a department). And as we have seen that is a failing business model.

 

[Sonnie Parker]

Yeah... I thought Sears was a thing of the past.

I have always been a fan of their tools, but lately I've been buy tools on Amazon.

 

[tesseract]

The Sears store here is two stories tall, in a major shopping mall and doing quite well. I'd hate to see 'em go.

 

[phillihp23]

I must say if you keep an eye out you can get a pretty good deal sometimes. I bought my stainless tool chest from them a couple years back. And they certainly have products which if you need to get hands on right away you can go get and not have to wait for it to be shipped from some other retailer.

 

[tesseract]

Yeah, they have great deals on all kinds of stuff, if one is patient.

 

[Todd Anderson]

A new era is here, that's for sure. Sears and K-Mart are both struggling. I wouldn't be shocked to see them both disappear for the most part.