Shoppers to benefit from Sears closures

The shuttering of five more major Sears Canada stores in Ontario and B.C., including the flagship Eaton Centre location, couldn’t have come at a better time for consumers.

Sears Canada spokesperson Vincent Power confirmed to MoneySense that all five stores are fully stocked for the holidays and will be offering liquidation-type sales on much of those goods in the coming weeks. That means rare, steep discounts on in-demand items. Expect the most aggressive sales to coincide with the Black Friday shopping weekend (Nov. 29-Dec. 1) and continue thereafter.

“Starting in a few weeks (shoppers) are going to see liquidation signs and at that point those prices will stay that way until merchandise is cleared,” Power said, adding that the best deals will be on fashion, toys and housewares since the retailer is less likely to redistribute those goods to other stores in the chain. Appliances, electronics and furniture (excluding floor models) are less likely to be significantly reduced and will be sent back to stock rooms.

“It’s an interesting time,” Power said. “It’s a good time for customers because they’re going to get the value on the regular stuff that we had planned anyway and now at those stores they’re going to get some liquidation activity.”

Earlier this summer Sears Canada announced it would close its Yorkdale and Square One locations in Ontario as well. Those stores are already in liquidation mode.

“The only difference is they wouldn’t have received the regular shipments of holiday apparel,” Power said.

Of course all these sales offer little consolation to the some 1,200 employees that will lose their jobs as a result of the most recently announced closures.

Here’s what you can expect at The Eaton Centre, Sherway Gardens, London-Masonville Place, Markville Shopping Centre and Richmond Centre ahead of the holidays:

Apparel (men’s, women’s, kid’s): 40%-50% off

Jewelry: 40% off

Toys: 30% off

Bed, bath & home decor: 30%-40% off

Pillows: 40%-50% off