Fog Blog Retail Log:

SAD NEWS FROM SEARS CANADA HEAD OFFICE....FILING FOR BANKRUPTCY PROTECTION AND 59 STORES CLOSING....BELOW IS THE SEARS LOGO MONTAGE FROM ITS INCEPTION , COLLABORATING WITH SIMPSONS IN CANADA.....SIMPSONS SEARS WAS BORN IN 1959 AND BECOMING SEARS IN THE 1970'S , FIRST PIC SHOWS SIMPSONS SEARS SIGN AS SEARS WAS ORIGINALLY LOCATED IN NORTH END SAINT JOHN! Insolvent Sears Canada Inc. has got court protection from its creditors in a last-ditch effort to slim down and shape up after years-long attempts to transform its business, leaving industry insiders now questioning the retailer’s long-term viability.The money-losing retailer is preparing to close 59 of its 255 stores – including 20 of its 94 large department stores – and let go 2,900 of its 17,000 employees in its bid to continue operating and possibly sell the business.And it asked Ontario Superior Court on Thursday to allow it to get out of contributing to its underfunded pension plan and retiree medical and dental benefits.But retail experts already are raising doubts about whether Sears’s plan is sustainable in a fast-changing retail landscape in which traditional players feel the heat from emerging e-commerce and other more nimble, low-cost rivals. The hopes are that Sears will keep its location in Saint John....stay tuned!