Sears Canada Inc. today sought court approval for its restructuring efforts, two weeks after the Canadian retailer filed for creditor protection, Reuters reported. The company also said that it would suspend payments to its suppliers, landlords and retirement benefits to its employees. Sears Canada said that it also sought court approval for a sale and investment solicitation process. The company set Oct. 4 as the deadline to obtain court approval of successful bids, while the company's sale and investment solicitation process has an expected completion date of Oct. 25.
