Sears Canada has announced they are looking into court approval for liquidating all remaining stores throughout Canada in the near future.
This move would leave 12,000 employees jobless.
In their announcement released today, Sears Canada stated “The company deeply regrets this pending outcome and the resulting loss of jobs and store closures.”
“Copies of the Company’s motion materials will be available on the Monitor’s website at http://cfcanada.fticonsulting.com/searscanada.
Information regarding the CCAA process may also be obtained by calling the Monitor’s hotline at 416-649-8113 or 1-855-649-8113 (toll free), or by email at email@example.com.
Sears Canada will continue to provide updates regarding its restructuring as developments warrant.”
*photo creds to Sears Canada