Bargain hunters are seen at the Sears store Friday, July 21, 2017 in St. Eustache, Quebec. (Ryan Remiorz/The Canadian Press)

Sears seeks court approval to close its Kelowna store

Sears Canada says it will seek extension of stay period until November

Sears Canada has applied to Ontario courts to close its Kelowna store, as it continues to restructure.

The Canadian retailer has entered into a number of lease surrender agreements and a lease amending agreement that will result in the closure of the two local stores, as well as leased locations in Nanaimo and Burnaby, according to a statement released Friday.

In June, Sears Canada announced it would close more than half of its store locations in the midst of court protection and restructuring.

Within the last year, the retailer has lost more than 80 per cent of its value.

This new batch of closures also includes seven other locations across the province, in total effecting about 1,200 employees.

More to come.


@ashwadhwani
ashley.wadhwani@bpdigital.ca

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