TORONTO Sears Canada could begin a full liquidation of the business as soon as October 19th as the clock runs down on an offer from executive chairman Brandon Stranzl.
Stranzl, who made a latest revised bid for the company on Tuesday night, is the only party who wants to run the business as a going concern.
But it appears he has until the end of next week to strike a bid with Sears, as the lenders who have kept the money-losing retailer afloat since June will ask Ontario Superior Court judge Glenn Hainey on Oct. 13 to approve a liquidation of the companys remaining assets, the court heard.
The Stranzl bid may not be executable, Sears lawyer Jeremy Dacks of Osler, Hoskin & Harcourt LLP, told Hainey. We have a very short fu…
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