Sears: The rise and fall of a national retail giant

TORONTO — For decades, Sears was a quintessential part of the Canadian shopping experience. Its catalogues adorned coffee tables and its Kenmore-branded appliances were staples in homes for generations. But like Eaton’s and Simpsons before it, Sears has encountered a litany of problems.

Here’s a look at some of the history of Sears Canada:

1952 — Simpsons-Sears is founded as a national mail-order business, as part of a partnership between the Robert Simpson Co. of Toronto and Sears Roebuck Co. of Chicago.

September 1953 — SimpsonsSears opens its first store in Stratford.

1973 — The company opens its first store under the Sears banner.

1978 — Hudson’s Bay Co. acquires the Simpson Co. The Simpsons-Sears partnership dissolves.

1984 — The company formally changes its name to Sears Canada.

1998 — The company launches its e-commerce website, becoming one of the first retailers to do so in Canada.

1999 — Sears buys the bankrupt chain, The T. Eaton Company Ltd.

February 2009 — Sears cuts 300 jobs to prepare for a “tough” year in retail.

2012 — Sears begins selling off leases to its stores in prime locations.

December 2016 — The retailer announces plans to venture into the grocery business, saying it signed partnerships with two specialty supermarket operators to run food markets at some of its revamped locations.

June 13, 2017 — Faced with a cash crunch that’s getting worse, the company announces it is exploring strategic alternatives including a sale.

June 22, 2017 — Sears Canada is granted court protection from creditors. It announces plans to close 59 locations across the country and cut approximately 2,900 jobs under a court-supervised restructuring.