Sears Canada’s liquidation sale prices under investigation
The Sears store at Devonshire Mall in Windsor, Ont., on Tuesday, Oct. 18, 2017. (Melanie Borrelli / CTV Windsor)
TORONTO -- The Competition Bureau is investigating allegations that prices on some merchandise were marked up ahead of the liquidation sales at Sears Canada that began last month, the court-appointed monitor overseeing the retailer says.
The monitor's seventh report to Ontario Superior Court says the federal competition watchdog sent letters on Nov. 8 to the liquidators inquiring about the allegations that certain merchandise was marked up.
The Competition Bureau, Sears Canada and one of the liquidators were asked Thursday for comment about the monitor's report and allegations, but none had replied by midday.
The bureau typically cannot confirm or comment about ongoing investigations. However, it has said that sale prices should accurately reflect the true pre-sale price.
Sears began the process of liquidating its remaining stores in October after failing to find a buyer.
After the sales began, several customers posted pictures to social media suggesting prices had been raised.
The joint-venture group running the liquidation includes Hilco Global, Gordon Brothers, Tiger Capital Group and Great American Group.