| THE SOURCE REMAIN OPEN |
| Just In - Miscellancous | |||
| Tuesday, 11 November 2008 11:22 | |||
|
Circuit City in the States maybe in trouble but The Source remain open for now. The Source's 772 electronics stores and dealer outlets in Canada operates under InterTan Canada Ltd. will remain open. While Circuit City has filed for Chapter 11 protection, it also forces The Source by Circuit City to file for creditor protection in Ontario Superior Court of Justice under the Canada Companies' Creditors Arrangement Act. For customers, The Source by Circuit City stores will continue to honour vendor programs and incentives and conducting all product returns or exchanges, warranties and gift cards as usual. According to the company, all 3,000 staff remain employed during this period and business will be as usual. "The Source is a small-format specialty retailer with 772 stores across Canada, significant future growth potential and approximately $650 million of annual revenues. Our management is committed to working with our employees, dealers, joint-venture partners, vendors, landlords and other stakeholders to emerge from CCAA, " Ron Cuthbertson, the president of InterTAN that operates The Source.
|
