The demise of Sears Canada is now official and 100 local employees will be out of work.
The retailer has received Ontario Superior Court approval to move ahead with the full liquidation of its assets. Some 12,000 employees will lose their jobs across the country now that the company will close its remaining 130 stores.
The move comes three days after Sears Canada announced that no suitable buyer could be found. Despite efforts by a group led by the company’s executive chairman, an agreement could not be reached.
MyNorthBayNow.com will update this story as more details are made available.
(With files from the Canadian Press)