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Ontario court approves $12.8M sale of Comark's apparel brands Ricki's and Cleo to Putman Investments.
An Ontario court approved Comark Holdings Inc.'s sale of its struggling apparel brands Ricki's and Cleo to Putman Investments Inc. for $12.8 million.
Putman, which owns Toys "R" Us Canada and HMV, will take over inventory, intellectual property, and some leases, and most employees will have job offers.
The sale follows Comark's creditor protection filing, due to challenges from the pandemic, ransomware attacks, competition, and supply chain issues.
The court also approved a sales process for Comark's Bootlegger brand, with interest from Warehouse One.
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La corte de Ontario aprueba la venta de $12.8 millones de marcas de ropa de Comark Ricki y Cleo a Putman Investments.