Creditor Meetings of Sears Canada Inc. and Affiliates are Postponed

TORONTO, March 27, 2019 /CNW/ - Pursuant to an Order of the Superior Court of Justice (Commercial List) issued on February 15, 2019 (the Meetings Order), the Monitor was authorized to hold meetings of affected unsecured creditors (the Meetings) of Sears Canada Inc. and their affiliates (collectively, the Sears Canada Entities). The Meetings were originally scheduled to be held on March 28, 2019 for the purpose of voting on the Sears Canada Entities' plan of compromise or arrangement filed on February 15, 2019.

Please be advised that, in accordance with paragraph 34 of the Meetings Order, the Monitor will be adjourning both Meetings to a later date, time and place to be determined by the Monitor. The new date for the adjourned Meetings, along with details as to venue, will be provided sufficiently in advance to allow affected unsecured creditors sufficient time to submit creditor proxies (which must be received 5 business days before the date of the adjourned Meetings). All creditor proxies that have already been submitted in contemplation of the Meetings being held as originally scheduled will continue to be valid for the adjourned Meetings. The adjournment of the Meetings will provide the Monitor with additional time to resolve certain outstanding disputed claims in the estate.

FTI Consulting Canada Inc. in its capacity as Monitor of Sears Canada Inc. et al.
and not in its personal or corporate capacity

For further information on the Meetings or on the proceedings of the Sears Canada Entities under the Companies' Creditors Arrangement Act, you may consult the Monitor's website at: http://cfcanada.fticonsulting.com/searscanada/

SOURCE FTI Consulting Canada Inc.