MONTREAL, Feb. 28, 2016 /CNW Telbec/ - BMTC Group Inc. (the "Corporation") (TSX: GBT) announces a lockout of the warehouse employees of its Montreal distribution center for an indefinite period. The principal issue that led to the deadlock in the negotiations to renew the collective agreement, which expired on December 31, 2015, relates to the pension plan for future warehouse employees of the distribution center. Essentially, the Corporation has agreed to keep unchanged, for the benefit of current employees, the defined benefit pension plan but has proposed that new employees hired following the renewal of the collective agreement would benefit from a defined contribution pension plan rather than from a defined benefit pension plan.
The Corporation assures its customers that operations in all of its stores and its customer service are not affected by the lockout and delivery operations will continue without interruption of service.
The press release contains certain forward-looking statements that involve a number of risks and uncertainties. Forward-looking statements relate to future events or future performance and include, but are not limited to, the completion of the Arrangement. Often, but not always, forward-looking statements can be identified by terminology such as "may", "will", "should", "expect", "plan", "anticipate", "believe", "estimate", "predict", "potential", "continue" or the negative of these terms or other comparable terminology. Such statements reflect the current views and estimates of management of BMTC Group Inc. with respect to future events, as of the date such statements are made, and they involve known and unknown risks and uncertainties which may cause actual events or results to differ materially from those expressed or implied by forward-looking statements. In evaluating these statements, readers should specifically consider factors such as the risks outlined under "Risk Factors" in BMTC Group Inc.'s Annual Information Form, which is available at www.sedar.com. Although BMTC Group Inc. has attempted to identify important factors that could cause actual events, actions or results to differ materially from those described in the forward-looking statements, there may be other factors that cause such events, actions or results to differ. BMTC Group Inc. is under no obligation (and expressly disclaims any such obligation) to update forward-looking statements if circumstances or management's views or estimates change. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements.
About BMTC Group Inc.
BMTC Group Inc.'s Common Shares are listed on the Toronto Stock Exchange and through its subsidiary Ameublements Tanguay Inc., and its two divisions, Brault & Martineau and EconoMax, the Corporation is a major retailer of furniture, electronic goods and household appliances operating in the province of Quebec..
SOURCE BMTC Group Inc.
For further information: Mr. Yves Des Groseillers, Chairman, President and Chief Executive Officer, BMTC Group Inc., 514-648-5757