Sears Canada / To cut nearly 1,000 jobs as 5 stores close

Nearly 1,000 people could be out of work after Sears Canada announced Tuesday it will be closing five stores in the hopes of saving $400 million.

Four of the stores are in Ontario and include Toronto Eaton Centre, Sherway Gardens in Toronto, Markville Shopping Centre in Markham, and London-Masonville Place in London. The fifth store is located at Richmond Centre in Richmond, B.C.

The Ontario stores are set to close by Feb. 28, while the store in Richmond will close Feb. 28, 2015.

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