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

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‚Äč

* 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: