Sears Seeks Court Approval to Close All Remaining Stores

Sears Canada said Tuesday it plans to seek court approval to begin liquidation of all of its remaining stores and assets, a move that would see about 130 outlets close and put about 12,000 employees out of work.


0
48 shares
Sears
Donate All donations go towards promoting independent journalism and this month's charity.

Sears Canada said Tuesday it plans to seek court approval to begin liquidation of all of its remaining stores and assets, a move that would see about 130 outlets close and put about 12,000 employees out of work.

“Sears Canada, with the recommendation of its advisers and approval of the monitor, FTI Consulting Inc., is seeking an order to commence a liquidation that would result in a wind-down of its business following court approval,” Sears Canada said in a release.

“The company deeply regrets this pending outcome and the resulting loss of jobs and store closures,” the retailer said.

 


0 Comments

Your email address will not be published.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

Ali Taghva

Business owner, former riding President, and Bachelors in Industrial Relations from Mcgill. Interested in the intersection of politics and culture. I firmly believe in a free media and work to push new stories to your door each day.

Choose A Format
Story
Formatted Text with Embeds and Visuals
Video
Youtube, Vimeo or Vine Embeds