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

Legion bell prank hits sour note

Anger erupts after Summerland Legion member removes bell from Peachland Legion

Former optician guilty of assaulting minor

Sex offence took place in Salmon Arm more than 25 years ago

Kelowna Parkinson’s SuperWalk team donates to local shelter

Good Vibrations donated $300 to Inn from the Cold

Video offers aerial view of future Salmon Arm

Ministry of Transportation and Infrastructure shares digital rendering of Salmon Arm West project

No snow, mild temperatures for Okanagan-Shuswap

You shouldn’t need your shovels anytime soon

SAR score new machine

Vernon Search and Rescue win Kioti Tractor contest

Vehicle with dog inside stolen from Oliver gas station

A black Honda CRV was stolen from the Oliver Chevron early Sunday morning

Site C decision coming Monday

Premier John Horgan to announce fate of dam project at B.C. legislature

California couple name daughter after Revelstoke

Revy Elle Atashroo was born on Nov. 27. Her name honours the town her parents loved exploring.

VIDEO: Vancouver Whitecaps acquire star striker Kei Kamara

Kamara has 103 goals and 39 assists in 298 appearances over 11 Major League Soccer seasons

Smartphone pedometers underestimate steps, but valuable health tool: study

UBC researchers found the iPhone underestimated steps by 21.5 per cent

VIDEO: ‘Last Jedi’ premiere kicks off with droids, Daisy Ridley

Latests Star Wars film premiered in style ahead of Dec. 15 theatre debut

UPDATE: Poor ventilation likely cause of carbon monoxide incident at B.C. farm

All 42 patients have been released from hospital, according to Delta Fire

Most Read