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

Quebec, Ontario

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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

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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.

Miscellaneous Store Retailers, Retail Trade NEC, Retail trade, Casket Stores Inc.

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