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Mississoga, Ontario, January 30, 2025 (Globe News) – Comark Holdings Inc. (“” “Pomark“), On behalf of bootlegger Clothing Inc. (“bootlegger“), Cleo Fashions Inc.Cleo“), And Ricki’s Fashions Inc. (“Rick), Retail dealers who serve customers all over Canada announced today that they have concluded two separate agreements for transactions that will seek to implement continuous anxiety transactions for each of its three banners.
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Cleo/Ricky treatment
Comark is pleased to announce that it has concluded an agreement to sell Cleo and Ricki’s to Putman Investmentsand It is owned by the Canadian veteran Doug Potman, who recently obtained retail work in Northern Reflections.
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Under Cleo/Ricki treatment conditions, Putman Investments will buy Cleo and Ricki’s assets and seeks to take rental contracts for some current stores sites, with a plan to continue employment for a number of current employees in these companies.
Cleo/Ricki transaction is subject to certain closing conditions, including approval from the Supreme Court of Justice in Ontario (Commercial List) (“court)) In the continuous restructuring procedures for Kumark under Corporate creditors’ arrangement lawPutman Investments has succeeded in reaching the GO-Forward rental arrangements with the concerned owners.
If the court approves it, the transaction is expected to be closed in February 2025.
BootLegger Treatment
Comark is also pleased to announce that it has entered into an agreement to treat horses chased to sell bootlegger to Warehouse One Clothing Ltd. (“The”Horse tramined“With regard to the proposed sale and investment process (“The sale process() It aims to facilitate the restructuring of the Bootlegger business, and the exit from the CCAA procedures as a continuous viewer. With more than 100 store sites, Warehouse One is a trusted retail dealer at reasonable prices of jeans with every size, which makes it easy for customers to search and feel the best they have .
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According to the sales process, the parties interested in obtaining bootlegger and/or some assets are not included in the Cleo/Ricki treatment, call the screen to obtain additional information about participating in the sale process. Total bidding in the sale of February 20, 2025 must be provided.
The horse treatment agreement and the sales process are subject to the approval of the court. If qualified bids are not received on the deadline, COMARK will order the court’s approval to treat Horsing Horse to sell bootlegger to Warehouse One, which intends to continue Bootlegger on at least 25 of the current Bootlegger locations, according to success access to the lease arrangements with the concerned owners.
The following steps
As part of the CCAA procedures, Commark plans to request the court’s approval of the above transactions in a session scheduled for February 4, 2025. www.alvarezandmarsal.com/comarkretail.
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For additional information related to the sale, the parties concerned can contact the screen directly on comarkretail@alvarezandmarsal.com.
After closing the transactions shown above, each of which is suspended by the court’s approval, the store sites related to the continuous interest transactions will be removed from the current liquidation process, which will continue in relation to the remaining store sites.
About a comor
Comark is a dealer for a specialized Canadian clothing. Founded in 1976, COMARK runs approximately 220 stores under three banners: Ricky, Cleio and BootLegger. Comark stores are located in shopping centers, large energy centers, and strategic suburban squares throughout Canada. COMARK’s long history has strengthened the country’s huge customer loyalty to the target market for each section.
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