Shopping mall stalwart Sears faces more hard times. Nathan Rousseau Smith (@fantasticmrnate) has the story. Buzz60

The former Canadian division of Sears is set to go out of business, a fate the U.S. retailer is still trying to avoid as department stores suffer.

Sears Canada, which spun off from U.S.-based Sears Holdings in 2012, said Tuesday that it would ask for a court’s permission to liquidate.

The move effectively ends the company’s last-ditch attempt to keep some stores open under new ownership.

The retailer’s demise in Canada comes as department stores are ailing in competition with, nimble fast-fashion competitors and other retailers. In the U.S., Sears Sears Holdings has closed hundreds of locations and sold assets in an…