Hart Stores Announces Extension of CCAA Order


LAVAL, QC, Sept. 28, 2011 /CNW Telbec/ - Hart Stores Inc. (TSX: HIS) announces that it today obtained an Order from the Québec Superior Court under the Companies' Creditors Arrangement Act (Canada) extending the stay period granted under the previously-announced Initial Order obtained by Hart Stores on August 30, 2011.

Today's Order extends the stay period from September 29, 2011 to November 4, 2011.  During this period, all proceedings on the part of Hart Stores' creditors are stayed.

The Order also created a charge over all of Hart Stores' assets, in an amount of up to $2 million, in favour of Hart Stores' suppliers for certain goods and services provided after August 30, 2011, the date of the Initial Order under the CCAA.  The charge is subordinate to security held by Hart Stores' existing secured creditors.

RSM Richter Inc. has been appointed Monitor pursuant to the Initial Order.  All inquiries regarding the CCAA proceedings affecting Hart Stores should be directed to the Monitor.  A copy of today's Order will be made available and may be viewed on the Monitor's website at http://www.rsmrichter.com/restructuring/HartStores.aspx.

About Hart Stores Inc.:
Hart Stores Inc. operates a network of 92 mid-sized department stores under the Hart, Bargain Giant and Géant des Aubaines banners.  The stores are located in secondary and tertiary markets throughout Eastern Canada where the Company has established a dominant position in many of the communities that it serves.  The stores offer an extensive and differentiated selection of national and exclusive fashion apparel brands as well as family footwear, home furnishings, giftware, toys and seasonal goods.

Forward-Looking Statements and Disclaimer
Certain statements included in this press release may constitute "forward-looking statements" within the meaning of the Canadian securities legislation.  Forward-looking statements are based on the best estimates available to Hart Stores at the time and involve known and unknown risks, uncertainties and other factors that may cause Hart Stores' actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements.  A description of the risks affecting Hart Stores' business and activities appears under the heading "Risks & Uncertainties" in Management's Discussion and Analysis on pages 18 to 20 of Hart Stores' 2011 Annual Report, which is available on SEDAR at www.sedar.com.  No assurance can be given that any events anticipated by the forward-looking information in this press release will transpire or occur, or if any of them do so, what benefits that Hart Stores will derive therefrom.  In particular, no assurance can be given as to the future financial performance of Hart Stores.  Undue reliance should not be placed on these forward-looking statements, which are made only as of the date of this press release.  Hart Stores disclaims any intention or obligation to update or revise any forward-looking statements in order to account for any new information or any other event.


For further information:

Hart Stores Inc. 

Rick Leckner

MaisonBrison Communications

Tel: 514-731-0000, Ext. 222

RSM Richter Inc. (Monitor)

Benoit Gingues, CA

Partner, RSM Richter Inc. (514) 934-3514


Stéphane De Broux, CA

Vice President, RSM Richter Inc. (514) 934-8621


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