Sears closing Laval home centre, Place Vertu outlet in restructuring

Sears Canada Inc., the struggling offshoot of Sears Holdings Corp., sought court protection from creditors to carry out a restructuring plan after it ran short of cash.
The retailer is aiming to exit court proceedings as soon as possible this year, Sears Canada said in a statement Thursday. An order was granted by the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act, known as the CCAA, which allows it to stay in business while a recovery plan is worked