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Raising hopes for the revival of Pawan Ruia’s Falcon Tyres, Edelweiss has withdrawn its plea in the Supreme Court against a Karnataka High Court order shooting down the company's original plea seeking liquidation of the tyre manufacturer.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