Sears Canada to liquidate remaining stores

The move will put roughly 12,000 people out of work

Sears Canada has received court approval to liquidate all its remaining stores, putting 12,000 employees out of a job.

Ontario Superior Court heard Friday that despite weeks of discussion, no viable buyer has been found.

Justice Glenn Hainey approved Sears Canada’s motion to liquidate its remaining 130 stores and said he was satisfied there was no viable alternative.

The embattled retailer sought protection from its creditors in June.

A buyer group led by Sears Canada executive chairman Brandon Stranzl had been in discussions to purchase the retailer and continue to operate it. But a lawyer for Sears Canada told the court that although it had remained optimistic, no executable transaction exists.

Sears Canada closed 20 stores in June.

Just Posted

Tsunami warning had Peninsula crews on standby

The tsunami warning that got some Greater Victoria residents scrambling for high… Continue reading

Sirens don’t sing in tsunami warning for Esquimalt

Officials pleased with process, say sirens would have been activated had threat escalated.

Elizabeth May reaches out to Sidney through town hall

Marijuana cultivation in Central Saanich crops up during meeting

BC Boat Show sails back to Sidney

Port Sidney Marina hosting event May 3 to 6

Shaving minutes off commutes among the goals for Victoria bus lanes

Work on southbound Douglas Street lane between Tolmie and Hillside getting underway

Tsunami warnings 101: Canada

Here are some things to know about tsunami alerts in Canada and how they work

Butchart Gardens is hiring now and paying more

Wages start at $15, job fair Feb. 20

Cash still needed for Stelly’s Cross Path

MLA Olsen wants more specifics first

Castlegar homicide victim identified

The victim was 38-year-old Jordan Workman of Castlegar, B.C.

B.C. Liberal leadership candidates get one last prime-time pitch

Leadership campaign to be decided in Feb. 3 vote

How high is safe from a tsunami? Four metres above sea level

Be disaster ready with food, water and clothing for seven days

Victoria Film Festival set for triumphant return to the big screen

Two decades on, diverse film lineups keep movie-goers coming to the box office

Andrew Scheer on trade, Trump and Trudeau

Canada’s Conservative leader begins three-day visit to B.C.

Victoria’s most wanted for the week of Jan. 23

Crime Stoppers will pay a reward of up to $2,000 for information that leads to arrests or the seizure of property or drug

Most Read