By Canadian Press

NewsAlert: Sears Canada voted Canadian Press business story of the year

Dec 18, 2017 | 8:15 AM

TORONTO — The demise of Sears Canada has been voted the 2017 Business News Story of the Year in an annual poll of the country’s newsrooms conducted by The Canadian Press.

Sears Canada filed for creditor protection and moved to shutter some 190 stores this year, leaving some 15,000 workers without jobs.

The closures sparked controversy as Sears Canada planned to dole out millions of dollars in retention bonuses to head office staff, while grappling with a more than $260-million shortfall in its pension plan.

The chain also faced accusations that prices on some merchandise were marked up ahead of liquidation sales, and the Competition Bureau announced an investigation into the matter.

The story received 47 per cent of the votes from business journalists, beating out eight other candidates.

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Ottawa’s small business tax changes came in second place with 16 per cent of the vote, while trade talks and marijuana companies tied for third place at 14 per cent each.

More coming.

The Canadian Press