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

Okanagan wineries back to business as usual

“It’s business as usual,” said Jeff Harder, owner of the Lake Country winery, Friday morning.

Snow impacting flights at Kelowna airport

Tough conditions have delayed several flights and cancelled others at the regional airport

Accidents happening across Central Okanagan

There are several reports of crashes throughout the Kelowna area

Friend of accused testifies at Kelowna sex assault trial

The trial of a West Kelowna man in a 2016 sexual assault continues at the Kelowna courthouse

Two men in custody after stolen vehicle found

A Kelowna man and a Vernon man are facing charges

What’s happening

Check out what is happening this weekend in the Okanagan-Shuswap.

Canucks fold 5-3 in first ever trip to Vegas

Daniel Sedin had two points as Canucks fall to the Golden Knights Friday night

That’s a wrap: B.C. Games results after Day 1

Vancouver-Coastal Zone 5 is in the lead for medals Friday at the Kamloops 2018 B.C. Winter Games

Penticton rally set for Indigenous homicide victims

Rally in support of Colten Boushie and Tina Fontaine set for Monday at noon at the courthouse

Familiar faces head up library board

The executive of the Okanagan Regional Library board remains the same

Sticking the landing at the B.C. Games

Gymnasts talk competition, B.C. Winter Games, and teamwork in Kamloops

Therapy dogs make appearance at B.C. Games

The St. John’s Ambulance therapy dog program launches a pilot project at the 2018 Kamloops B.C. Winter Games

$153M in federal cash to fund child care, education training in B.C.

Bilateral agreement will create 1,370 new infant and toddler spaces

Twitter feed prays for — instead of preying on — B.C. MLAs

Non-partisan Christian group wants to support politicians through personalized prayer

Most Read