Sears Canada Protection Agreement Claim: What You Need to Know
If you have purchased a product from Sears Canada and signed up for a Protection Agreement, you may be eligible to file a claim in the wake of the retailer`s bankruptcy and liquidation. In this article, we will provide an overview of the Protection Agreement program, the bankruptcy proceedings, and how you can file a claim for reimbursement.
What is the Sears Canada Protection Agreement?
The Sears Canada Protection Agreement (PA) is a service contract that provides customers with extended coverage on their purchased products. It covers repair and replacement costs for mechanical and electrical failures, as well as accidental damage from handling. The agreement typically lasts for three or four years, depending on the product, and can be purchased at the time of sale or at any point during the manufacturer`s warranty period.
What Happened to Sears Canada?
Sears Canada, once one of the largest and most successful department store chains in the country, filed for bankruptcy in June 2017. The company had been struggling for years due to competition from online retailers and a decline in foot traffic at brick-and-mortar stores. The bankruptcy led to the closure of all Sears Canada retail locations and the liquidation of its assets.
What Happens to Sears Canada Protection Agreement Holders?
As a Protection Agreement holder, you may be eligible to make a claim for reimbursement of unused coverage. Sears Canada has set aside a pool of funds to reimburse customers for the remaining value of their Protection Agreements. The amount you can claim will depend on the value of your agreement and the date of purchase.
How to File a Sears Canada Protection Agreement Claim?
To file a claim, you will need to provide proof of purchase and a valid Protection Agreement contract. If you have lost your contract, you can contact Sears Canada`s customer service department for assistance. You will also need to provide a description of the product and the reason for the claim. Claims can be filed online or by mail.
When Will You Receive Your Reimbursement?
The timeframe for reimbursement depends on the volume of claims received and the court`s approval of the plan. Sears Canada has stated that it aims to process claims as quickly as possible, but the process could take several months. Customers who have filed a claim will receive communication from Sears Canada regarding the status of their reimbursement.
Conclusion
As a Sears Canada Protection Agreement holder, you have the right to file a claim for reimbursement of unused coverage. While the bankruptcy and liquidation of Sears Canada may have been devastating for customers and employees alike, the reimbursement program offers a small silver lining for those who signed up for the Protection Agreement. If you have questions or concerns about filing a claim, reach out to Sears Canada`s customer service department for assistance.
