Bloomberg reports that efforts to put together an offer to save Sears Canada fort extinction have failed, and the company now plans to liquidate its 150 stores remaining stores and shut the company down, with a loss of some 12,000 jobs.

Sears Canada has been doing business for more than six decades, but, the story notes, has been “unable to fend off the march to online shopping … Sears Canada has struggled to provide a consistent, appealing brand to its customers across all of its channels, including its website, social media and physical stores, he said. The company has reported nine years of sales declines and years of losses, according to data compiled by Bloomberg.”

The story also points out that the liquidation “is a blow for billionaire Eddie Lampert, its biggest shareholder, who partially spun off the company from Sears Holdings Corp. in 2012. The windup raises questions about whether Sears Holdings may also falter.”

KC's View: For most of us, I’m sorry to point out, that question hass been asked and answered. Sears is running on fumes in the US, surviving only because Lampert keeps pumping cash into it. But it is still a dead company walking.