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There is plenty of opportunity for us in the United States," [Jonathan Hill] said from Brantford, Ont., where the company is moving its head office from Calgary. "The issue really is whether or not we need to maintain a retail presence in that market. "It really fundamentally comes down to a question of scale and local resources. It's difficult for anybody to operate a business in another market from afar," Hill said. Besides the drag on the bottom line, the U.S. stores were acting as a "trap" for merchandise that could otherwise have been sold in Canada, Hill said.
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BRANTFORD, Ont. -- Liquidation World Inc. has rung up a loss of $11.7 million for its 2007 financial year ended Oct. 7, as it restructured its operations and moved to quit the U.S. market. Revenue from U.S. operations fell 4.9 per cent to $28.2 million, with a loss of $5 million as Liquidation World moved to wind up its 18-outlet American presence.
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He said Deloitte will be returning to court in the near future seeking permission to pay out the money to NEFCO's secured creditors, which include HSBC and H. Adelman Ltd., a company owned by Winnipeg's Adelman family, which also owned NEFCO.
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After almost 30 hours of what lawyers described as "robust" and "vigorous" bidding, Great American won with a bid of US$134.3 million, beating Trans World Entertainment, which had hoped to continue operating at least some Tower stores, by only $500,000.
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Yes, we are seeing the liquidation of wealth following the deaths of parents and typically it is the liquidation of real estate, rather than a stock portfolio," [Keith Hazell] said in an interview Tuesday. "But more and more, long-term care is becoming an issue and that costs anywhere from $1,000 or $2,000 to $7,000 a month. Two, three or four years of that will hammer any potential inheritance. Clay Gillespie, vice-president of Vancouver's Rogers Group Financial, points out that an inheritance of $280,000 won't provide an adequate retirement income for a 60-year-old boomer couple with a life expectancy of 30 years, let alone leave much for a child who could very well be 60 before any wealth transfer takes place. "Our experience has been that money is passing between the generations ...
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* That "the possibility of liquidity problems at Crocus is very real" and that legislative changes requested by Crocus "may only push the problems into the future when they could be even larger. This is because Crocus has not done what its Prospectus says it will do, which is to arrange its investment portfolio so that funds are made available through liquidation of investments to fulfill requests for redemptions". We also remind you that your Finance minister attacked Opposition Members in the House in November and December 2006 with accusations that they were putting forward "fiction." "fantasy" and "conspiracy theories," and were in "fantasy land" when they said that the government must have been aware of problems. He stated that one member was suffering from "paranoia" and was putti...
