Fashion retailer Comark to be acquired by Stern Partners' affiliate
Comark Inc, a Canadian specialty fashion retailer, has executed an asset purchase agreement regarding a proposed sale of its business and assets. The deal, the value of which was not disclosed, will see Pacific West Commercial Corp, an affiliate of Canadian private equity firm Stern Partners, acquire and operate Comark's retail banners, Ricki's, Bootlegger and cleo. Comark, which obtained creditor protection earlier in 2015, said the purchase price is expected to repay its secured lender in full. Any surplus funds will be made available to unsecured creditors. Established in 1976, Comark currently operates about 300 stores. It is based in Mississauga, Ontario. The acquisition is expected to close in August.
21 July 2015•4 mins read
