Transaction allows the company to maintain its Quebec property
MONTREAL, July 19, 2012 /CNW Telbec/ - Capital régional et coopératif
Desjardins announced today that it is selling its interest in Boutique
Le Pentagone Inc. to a Groupe Nero Bianco member company after
creditors responded favourably to the restructuring plan submitted on
July 16 to Boutique Le Pentagone Inc.'s creditors.
Nero Bianco, a Quebec company sensitive to regional retail business
realities, will give Boutique Le Pentagone Inc. a new lease on life.
The acquisition will allow Nero Bianco to maintain 300 quality jobs at
the Boutique Le Pentagone Inc. head office and distribution centre in
Rimouski, as well as in the 38 stores in Quebec and New Brunswick.
On April 10, Boutique Le Pentagone Inc. sought court protection under
the Companies' Creditors Arrangement Act, so that it could maintain its operations while a restructuring plan was
being prepared and implemented. One of the major steps in this
restructuring plan was to find a new investor and strategic partner
that would bring synergy and ensure the company's long-term viability.
About Groupe Nero Bianco
Groupe Nero Bianco has been in the retail leather shoe and clothing
business since May 1984. The company has grown over the years and now
has 49 stores, including 29 under the Nero Bianco name, in the Quebec
City, Saguenay-Lac-Saint-Jean, Lower St. Lawrence, North Shore and
About Capital régional et coopératif Desjardins
Capital régional et coopératif Desjardins is a publicly traded company
managed by Desjardins Venture Capital. With over 106,000 shareholders
and net assets of $1.22 billion, CRCD contributes to Quebec's economic
development and the growth of cooperatives and the resource regions.
CRCD supports over 300 companies, cooperatives and funds in various
industries across all regions of Quebec. For more information, visit www.capitalregional.com.
SOURCE CAPITAL REGIONAL ET COOPERATIF DESJARDINS
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