Sears seeks court protection from creditors

Trading of shares in Sears Canada has been halted ahead of the Toronto Stock Exchange's open at 9:30 a.m.

Sears Canada says it is seeking court protection from its creditors in order to restructure its business.

The struggling retailer has piled up losses and seen its stock nosedive, losing more than 80 per cent of its value in the last year.

Just last week, the company warned there was ``significant doubt'' about its future and that it could be sold or restructured.

It has also gone through several leadership changes in recent years.