Articles on Sears

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About 23,000 companies went out of business in 2017. Reuters/Nick Zieminkski

How corporate bankruptcy works

A bankruptcy filing always means there's not enough money to go around, but the process ensures both debtors and creditors are protected.
Shoppers browse at a Sears Canada store in Toronto in October after the company began liquidation sales. Its retirement funds are short $308 million, forcing a 19 per cent cut to employee pensions. (THE CANADIAN PRESS/Nathan Denette)

Sears Canada tarnishes the gold standard of pensions

Sears Canada's bankruptcy should alert employees and regulators alike to rethink defined-benefit pensions.

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