Sears Canada may be forced to sell or restructure

Peterborough, ON, Canada / CHEX TV
Sears Canada may be forced to sell or restructure

A dire financial warning from Sears Canada, and its future in this country.

After reporting a first quarter loss of 145-million dollars, the company revealed today its forecasted cashflow won’t be enough to meet financial obligations over the next 12 months. Officials say they may be forced to sell or restructure. Sears has been operating in Canada since 1952. The retailer employs about 16-thousand people in more than 130 stores.

Peterborough has a Sears store in Lansdowne place. We asked shoppers what they think of the possibility of sears closing. Here’s what they had to say.

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