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

Group seeks to build honorary RCMP sculpture in Sooke

Sooke RCMP officers work long hours protecting the community, and a local… Continue reading

Refugee family gets help with rent

Sooke council changes scope of $3,600 grant

Central Saanich police chase down speeding biker

A motorcyclist from the Lower Mainland was caught on the Tsawout reserve… Continue reading

Sooke high school welcomes new principal

Laura Fulton was formerly vice principal at Belmont High and Spencer Middle schools

Sooke Mayor Maja Tait seeking re-election

So far, Maja Tait only declared candidate in mayor’s race

Solitary-confinement veto a chance to address mental health: advocate

B.C. Supreme Court made the landmark ruling Wednesday

Winter storm coming to B.C. this weekend

The bets are on as to how much snow the province will actually get in the coming days

B.C. civil rights group files complaint about RCMP arrest of man who later died

Dale Culver, a 35-year-old Indigenous man was arrested in Prince George last July

Lawyer says former B.C. government aide ‘barely guilty’ in ethnic vote scandal

Brian Bonney pleaded guilty to a breach of trust charge

Quite a few tears as homemade quilts distributed to residents of Ashcroft Reserve, Boston Flats affected by last summer’s fire

Quilters in B.C. and Alberta worked through the summer and fall to create more than 100 quilts.

B.C. coast loggers celebrate history, hope for improvement

Truck Loggers Association awaits B.C. NDP government’s new direction

Global Affairs aware of report of two Canadians kidnapped in Nigeria

The foreigners were heading south from Kafanchan to Abuja when they were ambushed around Kagarko

Saanich lights up Layritz Park with solar-powered lights

Saanich plans to install more solar-powered lights after installing them in Layritz… Continue reading

Whistler role in potential Calgary Olympic bid would be welcome: IOC

Calgary is mulling whether to vie for the 2026 Games, and could look to facilities in B.C.

Most Read