A Toronto judge has approved a hardship fund for former Sears Canada employees – that will come from a pool of money set aside to pay bonuses for Sears executives.

The $500,000 fund will help former employees facing difficulty – who would have been eligible for severance payments when they lost their jobs.

But they’ll have to apply to receive the money from the fund – and prove that they face “urgent or immediate hardship” in their financial situation.

They can receive up to eight weeks pay to a maximum of $12,000.

About 3,100 Sears employees have been laid off since the retailer began a restructuring process.