Sears Canada files for creditor protection

Sears Canada filed for court protection from creditors Thursday as the onetime retail giant seeks to adapt to a changed business landscape and tougher online competition.The company also announced it was shutting 59 stores and laying off 2,900 staff at corporate headquarters in Toronto and across its retail network.The company's roots in the American mail order business Simpsons-Sears sprouted a chain of department stores across Canada that anchored hundreds of malls.