Had some bad news pointed out to me today the following corporate
entities
TBS Acquireco
Inc., The Bargain! Shop Holdings Inc., and TBS Stores Inc. (collectively “The
Bargain! Shop”) filed for CCAA protection on Feb 26,2013 .
That’s bad enough news in itself, what’s even worse is within that legal
process they have decided to liquidate 63 of their 231 stores comprising 55 “The
Bargain Shop” store locations, 4 “mynark” store locations and 3 “Red Apple”
store locations. At this point in time they have not named the specific stores
but according to the information below 6 of those stores are in Alberta
http://documentcentre.eycan.com/eycm_library/B%20Shop/English/Lease%20Opportunity/LeaseNotice.pdf
Note: I have received a couple of comments now informing me that the Blairmore store is staying open, certainly good news for everybody in the Pass.
Note: I have received a couple of comments now informing me that the Blairmore store is staying open, certainly good news for everybody in the Pass.
9 comments:
They will probably close stores that are in direct competition with major stores. I have a feeling they probably do pretty well here.
I just read a better article, they are all in Ontario.
3:39 This is not an article it's part of the legal process.
Have you clicked on the link
No, I found a better article. It says that mostly the stores in Ontario and east will be affected; i.e., especially the Maritimes. I don't only look at one link someone supplies; I always also find my own.
Just spoke to one of the employees they have been told that the Pass store is staying open but Pincher Creek store is closing.
Good news for the Pass.
5:13 Thanks for that information.
That is good news for the Pass, hope things work out for this company. On the court documents it states that they have until March 28 to come up with a financial plan. Of course that deadline can be extended by the court if it so wishes.
Dean, could you add the news that Blairmore "will not be closing" as up date to this post so it stops the rummor mongers who do not want to read the comments.
Yes, it would be really nice to wait until things are confirmed, but then we would not have the big sensational headlines.
No big sensational headline the parent company is in financial difficulty that's fact. Companies do not go into CCAA just because there are a bunch of unemployed lawyers looking for work.
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