TORONTO, Oct 13 (Reuters) – Sears Canada on Friday won court
approval to begin liquidating all its remaining assets starting
Oct. 19, putting the retail chain with 12,000 employees on a
path to closure after 65 years in the country.
The approval was granted by the Ontario Superior Court of
Justice, which also extended creditor protection for Sears
Canada to Jan. 22. The public liquidation sales are set to end
on Jan. 21.
The end comes after years of falling sales and sliding
market share for Sears Canada, whose beginnings as a catalog
company seemed to make it ideally suited to take advantage of
consumers’ shift to online shopping.
“They were the best positioned retailer to be successful
with the adven…
Read the full article at: http://uk.businessinsider.com/r-update-1-sears-canada-to-close-after-court-oks-liquidation-2017-10
