TORONTO, Oct 4 (Reuters) – Creditors to Sears Canada have
set a deadline of Oct. 7 for the retail chain to enter
liquidation agreements for all its assets, leaving the company
with just days to reach a deal to continue operations, a
court-appointed monitor said.
That tight deadline presents a challenge and could
potentially derail negotiations with the executive chairman
Brandon Stranzl, who stepped away from day-to-day operations of
Sears Canada to come up with a proposal to keep the 65-year-old
company running.
A lawyer for Sears Canada and a company spokesman both
declined to comment.
Stranzl submitted a revised proposal, lawyers for Stranzl
said. Reuters was not able to reach Stranzl immediately.
St…
Read the full article at: http://www.businessinsider.com/r-creditors-set-oct-7-deadline-for-sears-canada-to-enter-liquidation-2017-10
