(Photo: John Spitters/ Quinte News)
UPDATE @ 5:30 p.m.: A communications rep working for Sears Canada has confirmed employees at both the Sears store at Quinte Mall and the warehouse in Belleville’s industrial park will be out of work in the coming weeks.
If the company’s liquidation request is approved in court on Friday, the remaining 130 stores across the country would begin that liquidation around October 19th, with details still being worked out.
The representative says if you look at the first 59 stores which were cleared out and closed during the summer, retail employees would likely be asked to stay on for the duration of the liquidation.
He says warehouse employees would be in a similar situation and be asked to stay on until the warehouse clears out its stock.
The liquidation process could take 10-to-14 weeks and will leave close to 12,000 employees without jobs.
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Sears Canada Inc. is applying for court approval to liquidate all of its remaining stores and assets after failing to find a buyer that would allow it to continue as a going concern.
The retailer has been operating under the Companies’ Creditors Arrangement Act since June.
The court overseeing Sears Canada’s operations is expected to hear a motion Friday seeking approval for the liquidation and wind down of the business.
The company wants to start the liquidation sales no later than Oct. 19 and expects them to continue for 10 to 14 weeks.
Sears Canada says it regrets the pending outcome and the resulting loss of jobs and store closures.
Quinte News has reached out to Sears media representatives, to see how this development will affect the Quinte Mall Sears store, as well as the Sears Warehouse in the Belleville Industrial Park.
(With files from The Canadian Press)
