Sears liquidation has global reach

TORONTO — The end of Sears Canada’s operations will impact a network of suppliers across the world, the Toronto Star reports. Canada Post, Coca Cola, and Google are among the creditors who may be left empty handed, as are firms from New Jersey to Hong Kong. Lenders are scrambling not only to minimize losses but also to find account holders to fill Sears’s substantial shoes.

Sears will seek to generate as much cash as it can during a period of pre-Christmas liquidation sales. The savings may draw shoppers away from other major retailers, according to retail analyst Ed Strapagiel. Meanwhile, HARDLINES’ own intrepid Editor-in-Chief Michael McLarney told the Star that the home improvement sector stands to gain as well. “There’s no question that Home Depot and Lowe’s Canada have that appliance business squarely in their sites, and in the smaller markets, Home Hardware,” he said.

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