Sears chair quits as court OKs liquidation

TORONTO — Sears Canada Executive Chairman Brandon Stranzl resigned yesterday as the company announced it has received final court approval to liquidate its assets. Stranzl’s brief had been to secure a bid that would ensure the troubled retailer’s viability as a going concern. “In light of the liquidation, his services are no longer required as executive chairman,” the company said in the statement announcing the wind-down of its operations. With the green light from the Ontario Superior Court, liquidation sales are expected to begin on Thursday.