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Sale & Investment Solicitation Process ("SISP") / Processus de Sollicitation aux fins de vente et d'investissement (le "processus")
Frequently Asked Question's / Questions fréquentes

Sears Canada Group - Status Updates

October 4, 2017

On October 4th, 2017, the Honourable Mr. Justice Hainey granted an Order extending the Stay Period to November 7th, 2017.

Le 4 octobre 2017, l'honorable juge Hainey a accordé une ordonnance prolongeant la période de suspension jusqu'au 7 novembre 2017.


July 13, 2017

On July 13th, 2017, the Honourable Mr. Justice Hainey granted an Order extending the Stay Period to October 4th, 2017.

Le 13 juillet 2017, l'honorable juge Hainey a accordé une ordonnance prolongeant la période de suspension jusqu'au 4 octobre 2017.


July 13, 2017

On July 13, 2017, the Court heard the Applicants' motion for the issuance of an Order regarding: (i) extension of the Stay Period (as defined in the Initial Order) to October 4, 2017; (ii) suspension of Special Payments, Supplemental Plan Payments, and PRB Plan Payments; and (iii) approval of a Term Sheet regarding certain pension and employee matters.

The court also approved and issued the Amended and Restated Initial Order.

Further, the court granted an order approving a SISP.

The court directed that the Applicants' Motion for the Liquidation Sale Approval Order would be heard on July 18th, 2017 at 10:00 a.m.


July 12, 2017

The Sears Canada Group will make a motion before the Court on July 13th, 2017 at 9 a.m., or as soon after that time as the motion can be heard, seeking a Liquidation Sale Approval Order.


July 05, 2017

The Sears Canada Group will make a motion before the Court on July 13th, 2017 at 9 a.m., or as soon after that time as the motion can be heard, for Orders regarding: (i) extension of the Stay Period (as defined in the Initial Order) to October 4, 2017; (ii) suspension of Special Payments, Supplemental Plan Payments, and PRB Plan Payments; (iii) approval of a Term Sheet regarding certain pension and employee matters; (iv) approval of a Sale and Investment Solicitation Process ("SISP"); and (v) an Amended and Restated Initial Order.


June 22, 2017

On June 22nd, 2017 Sears Canada Inc. ("Sears Canada"), Corbeil Électrique Inc., S.L.H. Transport Inc., The Cut Inc., Sears Contact Services Inc., Initium Logistics Services Inc., Initium Commerce Labs Inc., Initium Trading and Sourcing Corp., Sears Floor Covering Centres Inc., 173470 Canada Inc., 2497089 Ontario Inc., 6988741 Canada Inc., 10011711 Canada Inc., 1592580 Ontario Limited., 955041 Alberta Ltd., 4201531 Canada Inc., 168886 Canada Inc., and 3339611 Canada Inc. (together, the "Applicants" or the "Sears Canada Group") sought and obtained an order (as amended from time to time, the ("Initial Order ")) under the Companies' Creditors Arrangement Act (the "CCAA") from the Ontario Superior Court of Justice (Commercial List). Pursuant to the Initial Order, FTI Consulting Canada Inc. ("FTI" or the "Monitor") has been appointed Monitor. The Initial Order also provides for a stay of proceedings for an initial thirty (30) day period subject to further extensions by the Court, ("the Stay of Proceedings"). The Sears Canada Group Stay of Proceedings has been extended by the court until July 22nd, 2017.


Contact FTI

FTI Consulting
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79 Wellington Street West
Suite 2010, P.O. Box 104
Toronto, Ontario M5K 1G8

Useful Links

FTI Consulting
Office of the Superintendent of Bankruptcy Canada
Sears Canada
Ursel Phillips Fellows Hopkinson LLP