Sears owner shuts down shop

The owner of Sears Penticton has decided not to continue operating, however Sears Canada is looking to reopen a store.

The owner of Sears Penticton has decided not to continue operating

The owner of Sears Penticton has decided not to continue operating

The owner of Sears Penticton has decided not to continue operating, however Sears Canada is looking to reopen a store sometime in the future.

A sign for the temporary closure of the Sears location in Penticton was posted on the front door early this week and customers were not able to browse, however they are able to pick up orders at the location.

Alicia Richler, director of corporate affairs and communications for Sears Canada, said that “the owner has decided not to continue in the business.”

“Sears Canada is committed to the community in Penticton and we are looking to re-open a store very soon,” Richler said.

It caused some confusion for customers coming in to the store on South Main Street. Charlene Janzen was turned away by a security guard when trying to pick up vacuum bags on Wednesday.

“I have heard absolutely nothing,” Janzen said of the closure.

One man who asked not to be named was coming in to look for a new stove and was turned away as well.

In the 2014 Sears Canada Annual Report, the company indicates that it experienced a $567 million decrease in revenue from the previous year which was “primarily attributable to the sales declines across all product categories.” The report also states that other merchandise revenue decreased by $22 million mostly due to the termination of the licensing arrangement with SHS Services Management Inc. the company which provided home installed products and services under the name Sears Home Service.

The report says that included in the revenue decrease was the closure of five full-line stores which was announced in 2013, accounting for $156 million in lost revenue in 2014 compared to the year prior.

 

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