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BRIEF-Sears Canada granted extension of stay period to October 4
July 14, 2017 / 1:02 PM / 2 months ago

BRIEF-Sears Canada granted extension of stay period to October 4

July 14 (Reuters) - Sears Canada Inc:

* Sears Canada granted extension of stay period to October 4, 2017, approval to commence sale and investment solicitation process

* Sears Canada Inc- ‍company has also filed motion materials regarding commencement of a liquidation process at Sears Canada locations that are closing​

* Sears Canada Inc says co expects to seek an order regarding liquidation process on July 18, 2017

* Sears Canada Inc - dip financing in aggregate principal amount of $450 million was approved by court on a final basis

* Sears Canada - ‍ sale and investment solicitation process deadline for binding offers from parties interested in pursuing a transaction is Aug 31, 2017​

* Sears Canada Inc - ‍reached an agreement with a variety of stakeholders to maintain certain payments and post-retirement benefits​

* Sears Canada - reached agreement with variety of stakeholders to maintain certain payments, premiums until September 30, 2017 Source text for Eikon: Further company coverage:

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