Aldo Shoes agrees to buy Calderone's 13 stores
Article Abstract:
Aldo Shoes Inc. of Montreal, Quebec, will acquire Toronto, Ontario-based shoe store chain Calderone for an undisclosed price. Aldo is considering adding the 13 Calderone shoe stores to its over 450 stores located all over Canada and the US. Calderone, the once family-owned 78-store chain, and other family-owned businesses entered into bankruptcy on Oct. 16, 1998, after incurring C$11.4 million in debt, as against its C$5.5 million in assets. Along with the fixed assets and the leases, Aldo will also acquire the Calderone name. The growing competition in the Canadian footwear market is causing industry players to consolidate, and it may also be one of the factors that brought Calderone's collapse.
Comment:
Will acquire Toronto, Ontario-based shoe store chain Calderone, along w/ its name & leases, for an undisclosed price
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Court approves Aldo's takeover of Calderone
Article Abstract:
Aldo Shoes Inc. has received approval to take over the bankrupt Toronto, Ontario-based chain of Calderone footwear stores. Judge Jack Ground of Ontario Court's General Division has permitted Aldo to acquire nine Calderone leases, including the equipment in the outlets and the trademarked Calderone name for C$1-million. The company beat Payless ShoeSource Canada Inc., which offered to acquire the leases, the fixed assets and the trademark for about $1.4 million. Payless ShoeSource lost the bid because it was late in submitting it.
Comment:
Has received approval to take over the bankrupt Toronto, Ontario-based chain of Calderone footwear stores
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Casket retailers to merge
Article Abstract:
Casket Stores Inc, based in Mississauga, Ontario, has agreed to merge with Toronto, Ontario-based Caskets Direct Inc to better compete in the $10- billion funeral industry in North America. Casket Stores, which has 21 stores, expects to improve its business through Casket Direct's manufacturing facility in North Bay, Ontario. Casket Direct's Toronto retail outlet will join the Casket Stores chain, which reported around C$5 million in revenue in 1998.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Magnotta hopes to open winery store in Toronto. Vincor secures land for more vineyards. Cadillac says post-Eaton's era would be a 'positive'
- Abstracts: Loewen hires financial adviser to help boost share price. Eron top executives should face severe sanctions: BCSC
- Abstracts: Monsanto draws fire from farmers. Bertelsmann gets takeover approval
- Abstracts: Sun directors advise shareholders to sit tight on Torstar takeover bid. Calgary Herald files defamation suit against union
- Abstracts: Friedland oil companies plan to merge. Miner to buy 25% of Inco's Voisey's shares