Sears Canada to liquidate remaining stores

The move will put roughly 12,000 people out of work

Sears Canada has received court approval to liquidate all its remaining stores, putting 12,000 employees out of a job.

Ontario Superior Court heard Friday that despite weeks of discussion, no viable buyer has been found.

Justice Glenn Hainey approved Sears Canada’s motion to liquidate its remaining 130 stores and said he was satisfied there was no viable alternative.

The embattled retailer sought protection from its creditors in June.

A buyer group led by Sears Canada executive chairman Brandon Stranzl had been in discussions to purchase the retailer and continue to operate it. But a lawyer for Sears Canada told the court that although it had remained optimistic, no executable transaction exists.

Sears Canada closed 20 stores in June.

Just Posted

Man admits to park manslaughter

Incident happened in Polson Park in August 2015; sentenced to five years in jail

Silver Creek RCMP search expands north

RCMP were seen collecting evidence three kilometres north of the farm where human remains were found

Lambert commits with Michigan Wolverines

Vernon Viper forward Jimmy Lambert is a Michigan Wolverine.

Vernon sets guidelines for marijuana use

The City of Vernon is setting some ground rules if recreational marijuana… Continue reading

Vernon homeless are considered local

The concept that many of Vernon’s homeless are transient is being contested.… Continue reading

Rally condemns violence, promotes healing

Discovery of human remains and disappearances of women have created tension in the rural community

B.C. NDP convention set for Victoria

Premier, federal leader Jagmeet Singh to add energy

B.C. school trustee calls LGBTQ school program ‘weapon of propaganda’

Chilliwack’s Barry Neufeld published the comments on his Facebook page

B.C. couple hope boat drone becomes first to cross Atlantic

Colin and Julie Angus of Victoria to have drone collect environmental data en route

Penticton pilots new mobile parking payment app

Eliminating the need to carry change for parking meters

B.C. casino accused of illegal activity follows rules: operator

B.C. had launched review after concerns about money laundering at River Rock casino in Richmond

Opponents of LGBTQ program to file human rights complaint against Surrey School District

District denied Parents United Canada right to rent Bell Performing Arts Centre for rally next month

Ex-employee describes alleged sexual assault by B.C. city councillor

Complainant was a teen during the alleged 1992 incident

Most Read