Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

BRIEF-Sears Canada to seek court approval of a sale and investment solicitation process

Published 2017-07-06, 08:22 a/m
© Reuters.  BRIEF-Sears Canada to seek court approval of a sale and investment solicitation process

July 6 (Reuters) - Sears Canada Inc SCC.TO :

* Sears Canada to seek court approval of a sale and investment solicitation process, extension of stay period to October 4, 2017 and suspension of certain payments

* Sears Canada Inc- sale and investment solicitation process has an anticipated completion date for all transactions by October 25, 2017

* Sears Canada-to seek to extend stay period provided by initial order up to, including October 4 to allow for co's businesses to keep operating while sisp is implemented

* Sears Canada - filed motion materials regarding orders it intends to seek for restructuring under ccaa at comeback hearing scheduled for July 13, 2017

* Sears Canada-at hearing,will seek court approval for suspension of special payments towards defined benefit component of sears registered retirement plan

* Sears Canada Inc - at hearing, will also seek court approval for suspension of post-retirement health and dental benefits

* Sears Canada - purpose of sisp is to seek out proposals for acquisition of, or investment in, sears canada group's business, assets and/or leases Source text for Eikon: ID:nCNWbjYVsa Further company coverage: SCC.TO

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.