The court is expected to hear Sears' petition on Friday, and if the court agrees, the struggling retailer could begin liquidation sales as soon as next week , which would impact the company's remaining 130 stores, CNN Money reported.
The move will mean the loss of 12,000 jobs and that's angered Canadian employees, according to CBC News.
"Many of us feel frustrated, anger, betrayal," a Sears manager told the CBC. "People don't know what to do."
Sears told employees they will lose their jobs, the CBC reported, possibly within the next couple days, and that they'll lose their benefits as soon as that happens.
The company issued a statement apologizing for the retailer’s demise.
"The company deeply regrets this pending outcome and the resulting loss of jobs and store closures," according to Sears' statement.
Sears Canada filed for bankruptcy in June.
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