Sears Canada executive chairman resigns, liquidation expected to start Oct. 19
People enter a Sears store in Mississauga, Ont., on Wednesday, October 11, 2017. The NDP is urging the Speaker of the House of Commons to allow an emergency debate on the fate of current and former employees of Sears Canada on Monday. THE CANADIAN PRESS/Nathan Denette
The Canadian Press
Published Monday, October 16, 2017 10:52AM EDT
TORONTO - Sears Canada Inc. says executive chairman Brandon Stranzl has resigned from its board of directors following court approval last week for the retailer to begin its liquidation sales.
The company says his services are no longer required.
Sears Canada has been operating under court protection from creditors since June.
Stranzl had led a group that was interested in buying the retailer and turning its fortunes around.
However, no deal was reached and the company was granted approval last week to begin the process to liquidate all of its inventory and close its doors.
Sears Canada says it expects to start its liquidation sales on Thursday.