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.
Stranzls bid presents significant clo…
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