77
$
bi-weekly lease
2017
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Dealer #25081
1-877-378-7800 • 1355 Cariboo Place • 250-828-7966
Total paid @ 0.99% / 60 months: $10,010. Taxes extra. See dealer for details. Model #BURCEM.
KAMLOOPS THIS WEEK THURSDAY
30 CENTS
kamloopsthisweek.com kamloopsthisweek kamthisweek
AT NEWSSTANDS
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JUNE 22, 2017 | Volume 30 No. 74
AJAX ONSIDE WITH REVIEW
Sears in serious financial crisis The future of an anchor tenant in Aberdeen Mall is in doubt. Sears Canada’s stock plunged Wednesday morning following a report it is preparing to seek court protection from creditors. The shares fell 21.25 per cent, or 17 cents, to 63 cents on the Toronto Stock Exchange shortly after the market opened Wednesday. The stock has been on a nosedive in the last year — losing more than 80 per cent of its value — and just last week the company warned there was “significant doubt’’ about its future and that it could be sold or restructured. Bloomberg News, citing unnamed people it said were familiar with the matter, reported the company is preparing to seek court protection from creditors within weeks and that the business could be sold off in pieces. The Toronto-based retailer and its American counterpart have been suffering from dwindling sales for years as a result of changes to consumer buying patterns and new competition, particularly from online shopping. In April, Sears Canada announced its 2016-17 loss was $321 million. Shareholders rank after lenders and creditors in a court-supervised bankruptcy proceeding, so Sears Canada shares could lose most or all of their value if it files under the Companies Creditors Arrangement Act or Bankruptcy and Insolvency Act. According to regulatory documents, its biggest direct and indirect shareholder is billionaire Edward S. Lampert, who also controls the Sears Holding Corp., a public company that owns Sears and Kmart stores in the United States. — Canadian Press
TODAY’S WEATHER cOAcH ✹ D&G ✹ BEBE
Hundreds attend meeting on SLR report on Ajax applicaiton Page A6
STAFF REPORTER
cam@kamloopsthisweek.com
PULLING FOR ABORIGINAL DAY
DAVE EAGLES/KTW
Kamloops School of the Arts Grade 3 student Calliope Leadbeater puts everything she has into a tug-of-war contest during a school outing on Wednesday to take part in Aboriginal Day activities at Riverside Park.
The local manager of the Ajax mine project said he has no major criticisms of the report by an independent consultant hired by the city. That report by SLR Consulting was presented to a public meeting Monday night in Kamloops in front of nearly 500 people. “The report and the event were quite positive,” said Chris Wild, project manager for KGHM Ajax. “By and large, he [SLR’s Paul Draycott] covered points in the environmental assessment and follow up and did a fairly good job bringing it all together.” Monday’s event did not involve KGHM Ajax directly, unlike provincial-federal meetings where cor-
RIDING, NOT HIDING
porate and consulting representatives run the show. “Generally, it was quite balanced,” Wild said. “We could quibble with a few points.” SLR’s chief concern, and that of a Interior Health Authority medical health officer at the meeting, centres on the ability to keep 90 per cent of dust created from trucks travelling on haul roads from drifting up and blowing into Aberdeen and Pineview Valley. There are also concerns about groundwater, leakage from Jacko Lake and lighting of the night sky. See COUNCIL, A10
CHANGES IN CASE
Get on your bike this Sunday
New prosecutor for case involving former sheriff
A13
A7
199
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97 AND UP
Not valid with any other coupons, sale packages or other discounts. Includes a selection of designer brand sunglasses with single vision RX lenses with tint and UV400. Some RX restrictions apply. See store for complete details.
INTERNATIONAL Licensed Optician
HURRY! OFFER EXPIRES JUNE 30, 2017.
331 Victoria Street
VISION
www.eyesinternationalkamloops.ca
E X A M I N AT I O N S
25O-851-8992
Free with min.purchase. Call for details! (Not an eye health exam)
✹ REBEL
$ PRESCRIPTION SUNGLASSES DESIGNER BRAND NAmE
zEAL ✹ mEXX
vERSAcE ✹ mIcHAEL KORS
Sunny and warm High 26 C Low 9 C
CAM FORTEMS