Sears Canada To Close
Tuesday October 10th, 2017
Posted at 2:41pm
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Sears Canada is closing all of their stores.
The company announced Tuesday that they will be applying to the Ontario Superior Court of Justice for approval to liquidate all of its remaining stores and assets.
It is expected the court will hear the motion on October 13th, 2017 and pending approval of the Court, it is expected that liquidation sales at retail locations would commence no earlier than October 19th and continue for 10 to 14 weeks.
Sears Canada was granted an Initial Order and protection under the Companies’ Creditors Arrangement Act on June 22nd, 2017. It subsequently received the Court’s approval of a sale and investment solicitation process to seek out proposals for the acquisition of, or investment in, the Sears Canada Group’s business, assets and/or leases, and to implement one or a combination of proposals.
The Windsor Home store on legacy park closed in September.