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Sears Gets Go Ahead to Begin Liquidating

People can expect to see the sale signs pop up at Sears starting Friday. The Ontario Superior Court approved the liquidation move today.

The clearance will run until October 12 and will include merchandise, furniture, fixtures and equipment.

Employees are being asked to stay until the end of the sales. The Lloydminster Sears location currently employs 41 people, most of which are part time.

The Ontario Superior Court also approved $9.2 million in retention bonuses to executives and other key employees.

In total, 59 stores across Canada will close and 2, 900 people will be laid off. None of those people will be receiving a severance.

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