Sears Canada wins court nod to extend credit protection to Nov 7

Sears Canada

04/10/2017 21:07

TORONTO, Oct 4 (Reuters) - Sears Canada won court approval 
to extend creditor protection until Nov. 7, the Ontario Superior 
Court of Justice ruled on Wednesday. 
    The ruling gives the 65 year-old retail chain more time to 
consider whether to liquidate all its assets or pursue a deal to 
stay in business. 
     The company, which in 2012 was spun off from U.S. retailer 
Sears Holdings Corp  SHLD.O , filed for creditor protection in 
June and laid out a restructuring plan that included cutting 
2,900 jobs and closing roughly a quarter of its stores.   
 urn:newsml:reuters.com:*:nL3N1JA471.     
 
 (Reporting By Nichola Saminather; editing by Diane Craft) 
 ((Nichola.Saminather@thomsonreuters.com; +1-416-687-7604;)) 
 
Keywords: SEARSCANADA HEARING/