Sears Canada to Liquidate
October 17, 2017,
TORONTO—Sears Canada will officially begin closing its doors later this week after an Ontario Superior Court judge approved last Friday a motion to liquidate all of its remaining stores and assets.
The decision will affect more than 12,000 people who work at the retailer’s 130 remaining stores across Canada, according to reports, and marks the end of an era for the chain, which has operated in Canada for 65 years.
Liquidation sales will begin Oct. 19 and continue for 10 to 14 weeks, according to Sears Canada.
The Sears Canada Group was spun off from Sears Holdings in 2012.
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