Sears Canada Inc. was recently given the go ahead by the Ontario Superior Court of Justice to being liquidating assets from 54 stores slated to close.
The liquidation process begins on July 21 and can go no later than Oct. 12 of this year according to the court order.
The 54 stores closing, which include 20 full-line stores, 15 Sears Home stores, 10 Outlet stores and 9 Hometown stores, will offer steep discounts on all merchandise.
According to a press release issued by Sears Canada Inc. on July 21, discounts between 20-50 per cent will be available on brand name men’s and women’s apparel, children’s wear, footwear, bed and bath, home décor, fitness and recreation, toys, furniture, mattresses, major appliances, hardware, luggage and more.
The discounts will also be placed on brands such as Kenmore and other well-known national and international designer brands.
Hilco Global, Gordon Brothers, Tiger Capital Group and Great American Group will be managing the liquidation sales of all inventory at closing stores while the owners of Sears Hometown Stores will conduct their own closing sales.
“We encourage consumers to shop early to take advantage of the best selection of products and great savings available throughout the stores while supplies last,” said Gary Epstein, a spokesperson for the JV group managing the sale process.
During the sale select fixtures, furnishings and equipment in the closing stores will also be for sale.
Gift cards for Sears will still be honoured during the time of the sale.
The JV group chosen to operating the closing sales has operated several other liquidation events in recent years including Target Stores.