Henry's gets court approval to restructure family owned camera retail chain

The Toronto-based retailer, which earlier this year filed a notice of intention to file a proposal for creditor protection, says Henry's Enterprises Inc. was granted approval to acquire the company's assets and to continue its operations.

All executive management and the chief executive will remain in place as the ownership changes from Cranbrook Glen Enterprises Ltd. The Stein family, which has run the company for four generations since opening in 1909, own Henry's Enterprises Inc. CEO Gillian Stein says the company is in a strong position to serve the creative community for the long term.

"Most importantly, we were able to save important Canadian jobs and keep Henry's a Canadian, family owned business," she said in a release.

Law Law Latest News, Law Law Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Torstar gets court approval to be acquired by NordStarDeal is expected to be completed on or about July 30 Old editorial content was a failed business model Will the new model prove successful
Source: nationalpost - 🏆 10. / 80 Read more »