Sears Canada announced today that they’re applying for court approval to liquidate their remaining assets and stores by mid October.Last week, they announced that more of their Toronto stores were closing. If the liquidation is approved, Sears will start a “wind-down” of all business on Oct. 19. A court hearing will take place on Friday.
About 12,000 employees will be out of work.
Sears has been around for more than 65 years.
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