From what I’ve read, the board and the CEO were in cahoots, and have run this once proud retailing giant into the ground. They’re already completely gone from Canada - no great loss considering the state the stores were in.
Sad to see, Sears was once my go-to place for many things, but the shopping experience went down steadily over the last couple of decades.
Our local Sears closed a couple of years ago. It is now a board of education office. No big loss.