Liquidation sales begin today at 54 Sears Canada locations

TORONTO -- The liquidation sales at 54 Sears Canada Inc. locations began Friday, a process the company hopes will help it emerge from creditor protection later this year.

The process includes 20 full-line, 15 Sears Home, 10 Outlet and nine Hometown locations in every province except Prince Edward Island.

The sales are being run by a joint venture group including Hilco Global, Gordon Brothers, Tiger Capital Group and Great American Group.

The group says fixtures, furnishings and equipment in the closing stores are up for sale in addition to the merchandise.

Sears Canada, which is operating under court protection from creditors, says discounts range between 20 to 50 per cent off.

The retailer has announced plans to close 59 locations in all and cut about 2,900 jobs as part of its restructuring plan.

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  People wait for Sears to open in downtown Vancouver, Friday, September 21, 2012. Sears Canada (TSX:SCC) announced Thursday it is laying off 700 workers across the country as part of a move to "right-size" the company and focus on restructuring its business. (THE CANADIAN PRESS/Jonathan Hayward)