Suppliers pressed Eaton's for audit

Article Abstract:

Retail chain T Eaton Company Ltd of Toronto has tapped accounting firm Richter Usher and Vineberg to conduct an independent audit of its operations. The company reported that some suppliers have cut back shipments due to negative reports about it's financial condition. A group representing the majority of the retailer's suppliers has also requested that Eaton conduct an independent audit of its operations. The company reported a loss of C$72 million for 1998, from its projected profit of $54 million when it went public in 1998.

Use of services, New orders received, Department Stores, Accounting & Auditing Services, Accounting, Tax Preparation, Bookkeeping, and Payroll Services, T. Eaton Company Ltd.

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Management eyes Shoppers buyout

Article Abstract:

Shoppers Drug Mart Ltd's senior officials and store operators are eyeing a possible management buyout of the biggest drugstore chain in Canada. The chain was put up for sale when its parent company, British Tobacco PLC, revealed plans to purchase the remaining 57% stake it does not already own in Imasco Ltd. However, industry observers said that a management buyout would have little chance of succeeding against industry players with more financial clout, including Jean Coutu Group (PJC) Inc and Walgreen Co of Deerfield, IL.

Asset sales & divestitures, Pharmacies and Drug Stores, Drug Store Chains, Shoppers Drug Mart Ltd.

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