TSXV symbol: GBV
SAINTE-JULIE, QC, March 24, 2015 /CNW Telbec/ - Groupe Bikini
Village inc. (TSXV: GBV) ("Groupe Bikini Village" or
the "Corporation") announces that it has accepted an
offer from Boutique La Vie en Rose Inc. to purchase substantially
all of GBV's assets. This transaction is expected to close at the
end of March. It is subject to the issuance of an approval and
vesting order by the Superior Court. The net proceeds of the sale
will be distributed to the Corporation's creditors.
About Groupe Bikini Village
Groupe Bikini Village inc. is a leading swimwear retailer with a
network of stores across Eastern
Canada. In its inviting stores, Bikini Village helps its
customers choose from among Canada's widest selection of swimwear,
beachwear, travel clothing and beach accessories. Headquartered in
Sainte-Julie, Quebec, Groupe
Bikini Village operates 52 stores and employs approximately
400 people; its securities trade on the TSX Venture Exchange
under the stock symbol GBV. For more information about Groupe
Bikini Village, please visit our website at
www.bikinivillage.com.
Disclaimer regarding forward-looking statements
Certain statements included in this press release may constitute
"forward-looking statements" within the meaning of applicable
securities laws. Forward-looking statements are necessarily based
on a number of estimates and assumptions that, while considered
reasonable by management when they are made, are inherently subject
to significant business, economic, and competitive uncertainties
and contingencies. Investors are cautioned not to place undue
reliance on forward-looking statements. The Corporation disclaims
any intent or obligation to update publicly these forward-looking
statements, whether as a result of new information, future events
or other development unless required by applicable law.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as these terms are defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE GROUPE BIKINI VILLAGE INC.