Sears Canada Inc. is applying for court approval to liquidate all of its remaining stores and assets after failing to find a buyer that would allow it to continue as a going concern.
The retailer has been operating under the Companies’ Creditors Arrangement Act since June.
The court overseeing Sears Canada’s operations is expected to hear a motion Friday seeking approval for the liquidation and wind down of the business.
The company wants to start the liquidation sales no later than Oct. 19 and expects them to continue for 10 to 14 weeks.
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In Regina, the Sears Home Store in Quance Street remained open as of Tuesday morning.
In April, the store on Broad Street and 7th was closed and the one inside Cornwall Centre was shut down in June.
In Saskatoon, Midtown Plaza, in the city’s downtown will take a hard hit as that is where Sears was located.
Sears Canada says it regrets the pending outcome and the resulting loss of jobs and store closures.