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Sears Canada secures court approval for liquidation
October 13, 2017 / 4:18 PM / in 4 days

Sears Canada secures court approval for liquidation

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 on a path to closure following 65 years of operations and leaving its 12,000 employees without jobs.

The approval was granted by Ontario Superior Court of Justice, which also extended creditor protection for Sears Canada to Jan. 22. (Reporting by Nichola Saminather, editing by G Crosse)

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