Sears Canada Inc. announced it will close all stores.
The company announced that it will be applying to the Ontario Superior Court of Justice for approval to liquidate all of its remaining stores and assets. The court is expected to hear the motion later this week. Pending approval of the court, liquidation sales at retail locations would start no earlier than Oct. 19 and continue for 10 to 14 weeks.
About 12,000 Sears workers will lose their jobs over the coming months.
» RELATED: Kmart, Sears stores to close in Ohio
Sears Canada Inc. is an independent Canadian digital and store-based retailer whose head office is based in Toronto. The Company operates as a separate entity from its U.S.- based co-founder, now known as Sears Holdings Corp. based in Illinois.
FIVE FAST BUSINESS READS
Thank you for reading the Springfield News-Sun and for supporting local journalism. Subscribers: log in for access to your daily ePaper and premium newsletters.
Thank you for supporting in-depth local journalism with your subscription to the Springfield News-Sun. Get more news when you want it with email newsletters just for subscribers. Sign up here.