Company that deals in Sears products goes into receivership: Company confirms
TORONTO - There's more bad news coming from Sears Canada (TSX: SCC).
The company has confirmed that SHS Services Management Inc, an independent installation services company that provides products licensed under the Sears banner, is in receivership.
Sears says in a release that it is working with Pricewaterhouse Coopers Inc. on what it calls "a viable business option for the future."
Sears says it will ensure that all Sears Home Services warranties are honoured.
SHS is quartered in Markham, Ont.
It's not clear how many employees work at the company or how they will be affected by the receivership.
Sears itself announced last month that it's laying off another 800 employees across its operations in another round of major cuts.
The retailer is scaling back operations as it sees its position in the industry severely eroded.
The company has already laid off thousands of people over the past few years and the latest round will leave it with 25,000 employees across the country.
Read more Business News
- Superboat chaseKelowna - 3:56 pm
- Needle used in robberyKamloops - 3:06 pm
- Kelowna man pleads guiltyKelowna - 2:02 pm
- Sign removal debatedPenticton / S. Okanagan - 3:11 pm
|QHR Technologies Inc||1.29||+0.07|
|Anavex Life Sciences||0.375||0.00|
|Copper Mountain Mining||2.35||-0.07|
|Sunrise Resources Ltd||0.025||-0.005|
|Mission Ready Services||0.25||+0.02|
How much time should you put into prospecting? The question is a bit of a puzzle. Ideally, there would be a reference book that lists, by industry, how much time you should invest in prospecting acti...
The Big Picture Valuation fears grip markets Growing concerns about the level of stock market valuations sparked a risk-off trade in global markets this week. Investors are worried that many companies...
Photo: ContributedFor many businesses this has been a tremendously difficult time since the 2008 crisis. Business fell off. Sales techniques that always worked, well… stopped working. Customers...