Demise of Sears Canada Voted Top Business Story of the Year
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.
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.
Here’s the CP’s pics for the top news story in past years:
- 2016: Pipeline battles
- 2015: Low oil prices
- 2014: Oil price collapse
- 2013: Rogers−NHL deal
- 2012: Personal debt
- 2011: Research in Motion woes
- 2010: PotashCorp takeover battle
- 2009: Auto industry restructuring
- 2008: Stock market nosedive
- 2007: Rise of the loonie
- 2006: Income trust taxation
- 2005: Surging oil prices
- 2004: Strength of the loonie
- 2003: Rise of the loonie
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The Canadian Press