"ESL [Lampert's hedge fund] disagreed with the aggressive and risky strategy to stimulate sales growth known as 'Sears 2.0,'" Lambert wrote in his blog. "ESL believed that strategy was highly risky and unlikely to succeed."
Source: Eddie Lampert's blog
Sears CEO Eddie Lampert dodged responsibility for Sears Canada's failure in a blog post published on Sunday.
Sears Canada was spun off in 2012 from Sears Holdings, which owns Sears' US business.
In the US, Sears has announced plans to close more than 300 Kmart and Sears stores this year.
Sears has struggled to adapt to the rise of e-commerce in both Canada and the US.
"People are selfishly and greedily concerned with finding sizes and snagging discounted shoes rather than being considerate of their shared environment and other people," wrote another Instagram user.
"I implore shoppers to show some common decency/respect for the employees and your fellow shoppers by not throwing EVERYTHING on the floor," an Instagram user wrote.
At a Sears in Thornhill, Ontario, pillows had already been thrown to the ground on Day 1 of liquidation sales.
Kids could almost get lost in the mess.
Shoes are everywhere.
Inside, stores are pure chaos.
"This makes me so sad," one Instagram user wrote, asking that shoppers be kind to employees working at clearance sales.
By the end of the weekend, everything had been marked down 20% to 50% at most Sears locations.
Stores are covered in signs proclaiming that "EVERYTHING MUST GO."
Sears Canada liquidation sales began on October 19 and are expected to continue for 10 to 14 weeks.
Source: Business Insider India