SEARS LOOKING FOR PERMISSION TO LIQUIDATE REMAINING STORES
10/10/2017 2:19:08 PM
The countdown is on for Sears employees at Lansdowne Place.
Roughly 12,000 employees nationwide, including roughly 120 employees at the Peterborough location, will out of work over the coming weeks after the company announced it will be going out of business.
59 stores have been shut down already, another 11 are looming, and the remaining stores will be the subject of a court decision later this week as it looks to liquidate all its remaining assets.
Sears Canada says if the court decision is approved, liquidation and clearance sales could begin as early as next week and continue over a 10-12 week period.
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