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The payout was part of a compromise with retired employees that will see Sears Canada continue making some benefit and pension payments to retirees until Sept. Founded in 1952, Sears Canada says it hopes to exit court protection as soon as possible this year.

Raising hopes for the revival of Pawan Ruia’s Falcon Tyres, Edelweiss has withdrawn its plea in the Supreme Court against a Karnataka High Court order shooting down the company's original plea seeking liquidation of the tyre manufacturer.

Depending on your situation, an MVL (Members Voluntary Liquidation) could unlock more cash from your limited company because the company’s remaining profits are distributed to the shareholders as capital rather than dividends.

That’s where our partners at Contractor MVLs come in.

Here are the stores Sears is closing: Current employees in the stores pegged for liquidation will be asked to stay on the job until the sales are complete and the locations are shut down.