TORONTO, July 21 (Reuters) - Sears Canada Inc SCC.TO said it would start liquidation sales on Friday at 54 stores that it plans to close as part of a court-approved restructuring plan to improve its performance following years of declining sales.
Sears Canada, 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 the store closures as well as some 2,900 job cuts.
The liquidation sales will be held at 20 full-line Sears Canada department stores, 15 Sears Home outlets, 10 Outlet stores and 9 Hometown locations.