Bouclair Inc. announced that it plans to file for bankruptcy as part of a plan to be acquired by a new investor group.
Alston Investments Inc., a new company formed by a group of Canadian investors with significant retail experience (“Alston” or the “Potential Purchaser”), announced this week it has offered to acquire via an Asset Purchase Agreement a substantial portion of the assets of home decorating retail chain Bouclair Inc.
The Potential Purchaser will focus on Bouclair’s successful experiential retail concept while continuing to invest heavily in Bouclair’s online presence. Efforts to promote Bouclair internationally will also be expanded. Shareholders of Alston include the current President & CEO of Bouclair, Peter Goldberg.
“It is no secret that retailers have faced significant challenges in recent years and have had to reinvent themselves in the digital world. Bouclair is no exception,” said Goldberg. “This proposed transaction would allow a new Bouclair to reorganize and focus on the enterprise’s strengths and to expand ecommerce and digital capabilities.”
Under the proposed transaction, the Potential Purchaser would purchase a substantial portion of the assets of Bouclair Inc. This will include maintaining more than 60 Bouclair retail store locations, its head office in Pointe-Claire, QC, and the lion’s share of its national employee base. A number of underperforming and non-strategic stores will close in order to reposition Bouclair’s retail footprint.
A key priority in the next 24 months will be converting as many as two dozen existing Bouclair stores, and finding new sites, for Bouclair’s experiential retail concept, first launched in Brossard, Quebec (Quartier Dix30) in November 2018. Looking forward, Bouclair plans to convert as many as two dozen existing stores over the next two years while actively searching for new markets and sites for the new concept, while continuing to invest in the company’s e-commerce platform, which has consistently yielded 30% year-over-year growth.
The proposed transaction is expected to be implemented through a court-supervised process. This will also serve to maintain the maximum level of employment going forward and to protect the business relationship with as large a number of suppliers, landlords and other stakeholders as possible.
To that end, Bouclair Inc. and Bouclair International Inc. have filed notices of intention to make a proposal under the Bankruptcy and Insolvency Act, have appointed Deloitte Restructuring Inc. to act as trustee, and intend to appear before the Superior Court of Quebec shortly to seek the relief customarily associated with such proceedings, as well as an order authorizing a liquidation process in respect of the assets in certain stores which will not be conveyed to the Potential Purchaser.
The completion of the sale of assets to Alston will be subject to obtaining approval from the Superior Court. The closing is expected to take place before year’s end.
A Montreal-based company, Bouclair was founded in 1970 in the building of an old movie theatre. Almost 50 years later, our brand has evolved to become Canadians’ first stop when looking for home decor items and furniture at affordable prices. With the launch of our e-commerce platform in 2015, all Bouclair products are now available in store and online, providing equal shopping opportunities for every Canadian at all times and during our Friends and Family promotion.
IKEA Canada plans to open a new store in Toronto downtown. IKEA is “actively exploring locations, concepts and solutions” for a downtown location, IKEA Canada chief executive Michael Ward said at an event in downtown Toronto. While it’s not yet clear exactly what the store will look like, how it will deliver products or when it will open, Ward said the retailer is “moving with speed” to make it work.
The new location will be smaller in size. In 2018, IKEA announced it planned to add small shops to 30 cities around the world. It opened its first downtown locations in Paris and New York earlier this year.
Ready. Set. Register! Event. Saturday, November 9, 2019, at 1:00 p.m. – 3:00 p.m.
Join us in-store and get ready for baby’s arrival! Check out our recommended baby products, while our registry experts help you select the perfect items for your growing family. Don’t forget to book a personal appointment with a registry expert!
No purchase necessary. Registration required to participate; closes On November 1 at 5:00 pm. Limited spots available per time slot, per store. Walk-ins are not guaranteed participation in the event, subject to space and availability. While they last. Parental supervision required at all times. Recommended for children ages 4+.
Good morning! Cineplex Canada Family Favourites Movies is here every Saturday 🙂 Join Cineplex on Saturday mornings at 11:00 am for Cineplex Family Favourites. Watch a family favorite film each week for only $2.99. A portion of the proceeds goes towards supporting WE Charity. It’s a fun and affordable way to enjoy the weekend with your family!
Today, Saturday, November 9, 2019, at 11:00 am the film Dora And The Lost City Of Gold
Sobeys Inc. is recalling Compliments brand Sweet Kale Blend from the marketplace due to possible Listeria monocytogenes contamination. Consumers should not consume the recalled product described below.
What you should do
Check to see if you have the recalled product in your home. Recalled products should be thrown out or returned to the store where they were purchased.
If you think you became sick from consuming a recalled product, call your doctor.
Food contaminated with Listeria monocytogenes may not look or smell spoiled but can still make you sick. Symptoms can include vomiting, nausea, persistent fever, muscle aches, severe headache and neck stiffness. Pregnant women, the elderly and people with weakened immune systems are particularly at risk. Although infected pregnant women may experience only mild, flu-like symptoms, the infection can lead to premature delivery, infection of the newborn or even stillbirth. In severe cases of illness, people may die.
There have been no reported illnesses associated with the consumption of this product.
For R Club Members Exclusive. If you already registered, you can attend:
LEGO Star Wars Mini Tantive IV Make and Take! Saturday, November 2, 2019, Starts at 11:00 a.m.
Build and take home a legendary Star Wars starship.
Plus kids can play with the new interactive Star Wars lightsabers.
No purchase necessary. Registration required to participate; closes On November 1 at 5:00 pm. Limited spots available per time slot, per store. Walk-ins are not guaranteed participation in the event, subject to space and availability. While they last. Parental supervision required at all times. Recommended for children ages 4+.
Good morning! Cineplex Canada Family Favourites Movies is here every Saturday 🙂 Join Cineplex on Saturday mornings at 11:00 am for Cineplex Family Favourites. Watch a family favorite film each week for only $2.99. A portion of the proceeds goes towards supporting WE Charity. It’s a fun and affordable way to enjoy the weekend with your family!
Today, Saturday, November 2, 2019, at 11:00 am the film The Angry Birds Movie 2
Fromagerie Bergeron Inc. is recalling Fromagerie Bergeron brand Gouda Curds and “Le Populaire” from the marketplace due to possible Salmonella contamination. Consumers should not consume the recalled products described below.
Check to see if you have the recalled product in your home. Recalled products should be thrown out or returned to the store where they were purchased.
If you think you became sick from consuming a recalled product, call your doctor.
Food contaminated with Salmonella may not look or smell spoiled but can still make you sick. Young children, pregnant women, the elderly and people with weakened immune systems may contract serious and sometimes deadly infections. Healthy people may experience short-term symptoms such as fever, headache, vomiting, nausea, abdominal cramps and diarrhea. Long-term complications may include severe arthritis.
There have been no reported illnesses associated with the consumption of these products.
Drake Meats is recalling ready-to-eat Drake Meats brand Salami (chub) from the marketplace due to potential undercooking. Consumers should not consume the recalled product described below.
What you should do
Check to see if you have the recalled products in your home. Recalled products should be thrown out or returned to the store where they were purchased.
If you think you became sick from consuming a recalled product, call your doctor.
There have been no reported illnesses associated with the consumption of this product.
For R Club Members Exclusive. If you already registered, you can attend:
LEGO Frankenstein’s Monster Make & Take, Saturday, October 26, 2019, Starts at 11:00 a.m.
Your children can join us to make their own LEGO Frankenstein’s Monster to take home.
PLUS! Each registered child will get a special LEGO Hidden Side Halloween Bag that glows in the dark!
Registration required. Maximum 150 registrations available per store. Parental supervision required at all times. Recommended for children ages 6 and older.
Good morning! Cineplex Canada Family Favourites Movies is here every Saturday 🙂 Join Cineplex on Saturday mornings at 11:00 am for Cineplex Family Favourites. Watch a family favorite film each week for only $2.99. A portion of the proceeds goes towards supporting WE Charity. It’s a fun and affordable way to enjoy the weekend with your family!
Today, Saturday, October 26, 2019, at 11:00 am the film Paw Patrol: Ready Race Rescue
Mannarich Foods Inc. is recalling fishballs from the marketplace because they may permit the growth of Clostridium botulinum.
Consumers should not consume the recalled products described below.
What you should do
Check to see if you have the recalled products in your home. Recalled products should be thrown out or returned to the store where they were purchased.
If you think you became sick from consuming a recalled product, call your doctor.
Food contaminated with Clostridium botulinum toxin may not look or smell spoiled but can still make you sick.
Symptoms in adults can include facial paralysis or loss of facial expression, unreactive or fixed pupils, difficulty swallowing, drooping eyelids, blurred or double vision, difficulty speaking or including slurred speech, and a change in sound of voice, including hoarseness.
Symptoms of foodborne botulism in children can include difficulty swallowing, slurred speech, generalized weakness and paralysis. In all cases, botulism does not cause a fever. In severe cases of illness, people may die.
There have been no reported illnesses associated with the consumption of these products.
Industry is recalling various raw beef and raw veal products from the marketplace due to possible E. coli O157:H7 contamination.
Consumers should not consume and distributors, retailers and food service establishments such as hotels, restaurants, cafeterias, hospitals and nursing homes should not sell or use the recalled products described below.
Check to see if you have the recalled product in your home. Recalled products should be thrown out or returned to the store where they were purchased.
If you think you became sick from consuming a recalled product, call your doctor.
Food contaminated with E. coli O157:H7 may not look or smell spoiled but can still make you sick. Symptoms can include nausea, vomiting, mild to severe abdominal cramps and watery to bloody diarrhea. In severe cases of illness, some people may have seizures or strokes, need blood transfusions and kidney dialysis or live with permanent kidney damage. In severe cases of illness, people may die.
There have been no reported illnesses associated with the consumption of this product.
Be the Ultimate Brawler! Saturday, October 19, 2019. 11:00 a.m. – 1:00 p.m.
Join us for a friendly battle and play against other Bakugan brawlers. Each brawler will receive a FREE Bakugan Poster.
Max. 50 per store. Parental supervision required at all times.
PLUS – You can enter to WIN a SUPER RARE Bakugan Starter Pack!
Enter in-store during event times for a chance to win. Must be 13 years of age or older. Full rules & regulations available in-store upon entry.
Also, If you already registered, you can attend:
L.O.L. Surprise Winter Disco Fashion Show: Saturday, October 19, 2019. At Toys”R”US Sherway Location Only, 690 Evans Avenue, Etobicoke, ON, M9C 1A1
Calling all B.B.S! Dress up as your favourite L.O.L. Surprise Character and walk the runway!
All participants will walk away with a FREE L.O.L. tote bag filled with cool stuff!
Limited Spots Available!
Registration Required
Finally, R Club Members Exclusive, Event registration opens Monday, October 21, 2019, for LEGO Frankenstein’s Monster Make & Take, Saturday, October 26, 2019, Starts at 11:00 a.m.
