Sears Canada warned Tuesday there are doubts about its ability to continue operating, and says it may have to restructure or be sold. In the wake of the news, shares of Sears Canada fell 34 cents to trade at 80 cents in early trading on the TSX. However, based on current negotiations with its lenders, Sears said it will only be able to get $109 million, before fees. The company said it has hired BMO Capital Markets as a financial adviser, and Osler, Hoskin & Harcourt LLP as a legal adviser. In light of its financial situation, Sears Canada also said it has postponed its annual meeting, which had been set for Wednesday.

Source: CBC News June 13, 2017 12:34 UTC