Sears Canada Seeks To Liquidate Stores, Assets

Posted on Tuesday, October 10, 2017 13:57 PM

Sears Canada is applying to Ontario Superior Court for approval to liquidate all of its remaining stores and assets. This will mean the Sears call centre in Saint John with 235 full and part time employees will be closing.

It's expected the motion will be heard on October 13th.

If permission is granted, liquidation sales at Sears store would start around October 19 and carry on for up to 14 weeks.

Sears Canada was granted protection from its creditors in June and announced that several stores across the country were closing for good.

In a news release, the company says it deeply regrets what is coming and the loss of jobs and store closures.

"Following exhaustive efforts, no viable transaction for the Company to continue as a going concern was received," the company says.