Sears Canada calls it quits.

24 Hours Toronto - - News -

Re­tail gi­ant Sears has asked for court ap­proval to shut­ter its 130 stores that will toss 12,000 em­ploy­ees onto the street. The com­pany said Tues­day it had failed to find a vi­able buyer that would al­low it to con­tinue to op­er­ate. A lawyer for the com­pany said a bid from its cur­rent CEO would be con­sid­ered but Sears is run­ning out of time — and money.

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