With Sears shutting down in Canada and beginning the liquidation process, the company has said it won't honour extended warranties unless they were purchased within the past 30 days. The markup on extended warranties can be as much as 300 per cent. Sears Canada is in the process of closing all of its remaining 131 stores in Canada, and all of the retailer's extended warranties are now null and void. "This hurt drives consumers to buy extended warranties." Which means the few people who buy warranties are subsidizing prices for the rest of us.

Source: CBC News October 20, 2017 09:00 UTC