Inflated Prices: Competition Bureau Investigates Sears Canada

The Competition Bureau is investigating allegations that Sears Canada had inflated its prices prior to the start of its sell-off last month, the court-appointed monitor said Thursday to oversee the retailer.

In their seventh report to the Ontario Superior Court of Justice, the Comptroller indicated that the federal Competition Agency sent letters to the liquidators on November 8 to verify certain information that the prices of certain goods would have been raised before the sale of liquidation.

The Competition Bureau, Sears Canada and one of the liquidators were joined on Thursday to comment on the details of the controller’s report, but none of them had responded by mid-day.

The Competition Bureau does not usually confirm or comment on its ongoing investigations. However, he has already indicated that sales prices must always accurately reflect the price of commodities before discounts.

Sears began liquidating its last stores in October after being unable to find a buyer.

Several consumers then put pictures on the social media which suggested that prices had been raised.

The joint venture responsible for managing Sears Canada’s liquidation sale includes Hilco Global, Gordon Brothers, Tiger Capital Group and Great American Group.

You May Also Like

About the Author: admin

Leave a Reply

Your email address will not be published. Required fields are marked *