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 (www.absound.ca) indicates that while the organization attempted to turn the company’s business around, it was
unable to do so.
Friday, November 14, 2008
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:
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.Sphere: Related Content