65 h. ago Five things to watch for in the Canadian business world in the coming week

TORONTO — Five things to watch for in the Canadian business world in the coming week: Settlement hearing in bread class action A $500-million settlement in a pair of class-action lawsuits involving Loblaw Cos. Ltd. and its parent company George Weston Ltd. will go before a court Monday in Toronto for approval. If the settlement […]

Economics

1 week ago Frank and Oak closing all retail stores including these Toronto locations

If you're looking for a deal on new clothing, this Canadian fashion retailer might be the place to look, given its future.Montreal-based Frank and Oak is closing all 14 of its retail stores in Ontario, Quebec, and BC and selling its intellectual property, according to new court documents. The news comes just three months after Frank and Oak filed for creditor protection with around $71 million in debt.In a document posted online, Frank and Oak's parent company, UGC Canada Holdings Inc., stated that on April 15, the Superior Court of Quebec approved a motion for the sale of certain assets, an authorization to proceed with the liquidation process, and other orders. Now, UGC Canada Holdings Inc. will be liquidating the company's inventory (including furniture, fixtures, and equipment) across all brick-and-mortar stores. As a result, three Toronto locations, including those at The Well (486 Front St.), Queen West, and the Eaton Centre, will be shuttered.Court ...

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1 week ago Over a dozen interested parties eyeing leases of 65 Hudson's Bay store locations

As the Hudson's Bay Company era nears its end, many of its soon-to-be vacated spaces may find new life with different tenants, with decisions on many sites expected in the weeks ahead.By Summer 2025, all 96 of the company's brick-and-mortar stores will close following a liquidation process that first began last month — including six locations that had previously been spared, such as the downtown Toronto and downtown Montreal flagship stores, but are now slated for closure as of a new court filing this week.From the outset of the court-approved liquidation process last month, Hudson's Bay engaged commercial real estate firm Oberfield Snowcap to market and sell its leases and properties, as a measure to generate additional operating revenue. This has been aptly named as the "Lease Monetization Process."Final bids for leases due on May 1According to a court filing earlier this week, as a part of the ongoing federal Companies' Creditor...

Culture

2 w. ago Frank and Oak to close all stores, sell intellectual property

Clothing retailer Frank and Oak is closing all 14 of its stores in the coming weeks and selling its intellectual property to a Montreal-based company as part of ongoing restructuring efforts. In a press release, the company says the Superior Court of Quebec approved the sale of the brand to Lamour Group and Thread Collective […]

Economics

2 w. ago Mitel Receives Court Approval of its Restructuring Plan, Clearing the Path to Capitalize on the Hybrid Market Opportunity

Company is expected to emerge from the restructuring process within the current calendar quarter with significantly reduced debt, improved capital structure, and renewed strategic focus on hybrid communications SUNNYVALE, Calif. — Mitel Networks Corporation, (together with certain affiliates, “Mitel” or “the Company”), a global leader in business communications, today announced that the U.S. Bankruptcy Court […]

Economics

2 w. ago HBC wants to hold ab auction for its art and artifacts, including its royal charter

TORONTO — Hudson’s Bay will seek court approval to put the royal charter that launched the company 355 years ago on the auction block, along with its trove of art and historical artifacts. The collapsing department store chain known as Canada’s oldest company said it’s applying to the Ontario Superior Court of Justice to sell […]

Culture

2 w. ago HBC wants to hold auction for its art and artifacts including its royal charter

Hudson’s Bay Co. wants to hold a dedicated art auction for the sale of its most historically significant art and artifacts including its royal charter as part of its restructuring under court protection from creditors. The retailer says, subject to court approval, it wants to hold the auction apart from the broader sale and investment […]

Culture

2 w. ago Hudson’s Bay Company to Launch Separate Auction for Art and Historical Artifacts

Auction aims to involve participants committed to ensuring the Company’s most significant art and artifacts remain preserved for the benefit of future generations TORONTO — Hudson’s Bay Company ULC (Hudson’s Bay or the Company), as part of its ongoing restructuring under the Companies’ Creditors Arrangement Act (CCAA), today announced that subject to court approval, it […]

Economics

3 w. ago Verde Announces Court Approval of Debt Renegotiation Agreement

The Agreement Secures Extended Payment Terms and Reduced Interest Rates, Enhancing Liquidity SINGAPORE, April 15, 2025 (GLOBE NEWSWIRE) — Verde Agritech Ltd (TSX: “NPK”) (“Verde” or the “Company”) is pleased to announce that the civil court has homologated Verde’s Debt Renegotiation Agreement, as disclosed in press releases dated October 2, 20241 and November 11, 20242. […]

Economics

3 w. ago Court approves sale of Bootlegger to subsidiary of parent company

An Ontario court has given Comark Holdings Inc. permission to sell its Bootlegger business to a subsidiary of its parent company. The sale approved by Ontario Superior Court judge Peter Cavanagh will allow the apparel retailer’s numbered parent company to operate Bootlegger stores through its affiliate Warehouse One Clothing Ltd. Bootlegger was founded in 1971 […]

Economics

3 w. ago Verde Agritech Limited and Nautica Holdings Limited announce strategic transaction for high

SINGAPORE, April 09, 2025 (GLOBE NEWSWIRE) — Verde Agritech Ltd (TSX: “NPK”) (OTCQX: “VNPKF”) (“Verde” or the “Company”) and Nautica Holdings Limited (ACN 647 075 401), an Australian unlisted public company with AUD $1 million in cash available for investment, are pleased to jointly announce the execution of a Share Sale Agreement (“SSA”). Under the […]

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