TORONTO (Reuters) - Sears Canada won court approval to extend creditor protection until Nov. 7, the Ontario Superior Court of Justice ruled on Wednesday.
The ruling gives the 65 year-old retail chain more time to consider whether to liquidate all its assets or pursue a deal to stay in business.
The company, which in 2012 was spun off from U.S. retailer Sears Holdings Corp SHLD.O, filed for creditor protection in June and laid out a restructuring plan that included cutting 2,900 jobs and closing roughly a quarter of its stores. .
Reporting By Nichola Saminather; editing by Diane Craft