skip to main content





Back to all Representative Matters
Aug 20, 2015

Stern Partners Acquires Comark’s Retail Business and Assets

Sam Babe

Pacific West Commercial Corporation (Pacific West), an affiliate of Vancouver-based Stern Partners Inc. (Stern Partners), completed the acquisition of the business and assets of Comark Inc. (Comark), a leading Canadian specialty apparel retailer with over 300 stores across Canada.

Comark obtained an initial Order from the Ontario Superior Court of Justice (Commercial List) on March 26, 2015, granting it creditor protection under the Companies’ Creditors Arrangement Act. On April 2, 2015, Comark commenced a sale and investor solicitation process that resulted in an asset purchase agreement with Pacific West. Comark’s business and the vast majority of its Ricki’s, Bootlegger and Cleo stores were sold as a going concern in the CCAA proceedings. As a result of the acquisition, Comark’s retail banners will carry on business as separate affiliates of Stern Partners. A portion of the cash proceeds received by Comark on closing of the acquisition will be used to satisfy amounts owing to the company's secured lender, Salus Capital Partners. 

Aird & Berlis LLP represented Salus Capital Partners with a team that included Sam Babe.

The M&A Advisor recognized this deal as the Cross Border Restructuring Deal of the Year

Related Representative Matters

Representative Matters
Microsoft Reaches Settlement as Part of Nortel Networks Global Settlement Peter K. Czegledy and Harry M. Fogul Feb 22, 2018 Microsoft Corporation reached a significant settlement with Nortel Networks Corporation after insolvency proceedings, which took over nine years. The Nortel proceedings, which involved the largest insolvency in Canadian history, included a joint trial held before the Ontario Court of Appeal and D...
Representative Matters
Canadian Schedule I Bank Restructures Loan to Large Cosmetics Company Sanjeev Mitra and Alyssa Gebert Feb 28, 2017 On behalf of the bank, Sanj Mitra and Alyssa Gebert successfully negotiated and completed the ref... On behalf of the bank, Sanj Mitra and Alyssa Gebert successfully negotiated and completed the refinancing of the borrower.
Representative Matters
A&B Advises on Award-Winning Management Buyout Deal Stanley W. L. Freedman, Steven L. Graff and Francesco Gucciardo Feb 16, 2017 The M&A Advisor recognized the management buyout of Thane International Inc. as the Consumer Discretionary Deal of the Year in the over $50 million to $100 million category as part of its 11th Annual Turnaround Awards.