Judge OKs Revised Sears Canada Bonus Plan to Keep Key Staff Through Liquidation

The Sears store in St. Eustache, Quebec. Sears Canada’s request for a revised retention bonus plan for key staff who stay through its liquidation process has been approved. The Canadian Press/Ryan Remiorz

TORONTO—An Ontario judge has approved Sears Canada’s request for a revised retention bonus plan for key head office staff and store managers who stay through its liquidation process.

The number of people covered by the retention plan for head office executives and staff has dropped to 36 from 43, and the amount that could be paid under that plan has dropped to $2.8 million from $3.9 million.