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BRIEF-Sears Canada to seek court approval of a sale and investment solicitation process
July 6, 2017 / 12:22 PM / 5 months ago

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

July 6 (Reuters) - Sears Canada Inc:

* 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: Further company coverage:

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