Friday, November 14, 2008

a&b sound Files For Bankruptcy Protection Again

It's been a tough year for CE retail. After months of mysterious, inexplicable behavior by the storied Western Canadian retail chain, and plenty of rumors, it's finally official:

Struggling Western Canadian retailer a&b sound has officially announced its filing for bankruptcy protection.
A note written by MacKay & Company Ltd., trustee in bankruptcy that appears on the company Website ( indicates that while the organization attempted to turn the company’s business around, it was
unable to do so.

One of my correspondents just asked me in an email, if I think that they’re finished for good this time. Who knows, but this time there’s not a whole lot left for someone to buy out of receivership. When Steiner originally put a&b sound into CCAA in 2005, they had 22 stores. This time, new owner Seanix and Paul Girard have nada. Indeed, even the value of the name brand "a&b sound" is pretty much gone.

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