With liquidation beginning as early as next week, there's plenty of uncertainty at Sears Canada.
Employee pensions and compensation are up in the air as the company seeks court approval to essentially sell itself right out of business.
“You just feel so bad because after a certain age you look forward to your pension, and then it’s all gone,” said Sears customer Joan Greene. “I think that’s a terrible thing to happen.”
Many customers are wondering what will become of their warranties on products. Sears Canada said, “We do not have information at this point regarding warranties (outside of what the manufacturer would provide). We hope to be able to confirm details as soon as possible and will share whatever information we have at that time.”
Earlier this year, New Brunswick Premier Brian Gallant was counting on the department store to create up to 530 jobs for new call centres in both Saint John and Edmundston. The announcement was made in front of a location shut down earlier in the month.
Gallant said Wednesday no provincial money was ever given to the chain because the $8.6-million payroll rebate agreement wasn't fulfilled.
“What that means is that the business actually has to create the jobs and have the jobs for a certain amount of time before they get the financial incentives,” Gallant said.
Gallant is defending the government's decision to offer financial help, when many said the writing was already on the wall.
“This is a good mechanism to use, and we're seeing it today that it’s protecting taxpayers’ money,” Gallant said. “But all the while it had Sears interested in investing here and unfortunately it didn’t work out.”
Pending court approval, Sears is planning to begin liquidation sales no later than Oct. 19. That could continue into early 2018.
With files from CTV Atlantic’s Nick Moore.
