| Giant Carpet declares bankruptcy |
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| Written by HGO Staff | |
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TORONTO - According to reports in at least two media outlets, Giant Carpet & Flooring has declared bankruptcy, a victim of a sagging housing market and slumping consumer confidence.
Both the Toronto Star and CityNews.ca reported that the 12-unit chain owes about $5.2 million. The flooring specialist apparently closed its doors late last week, putting 100 people out of work and leaving customers scrambling for their unfilled orders. The Richmond Hill-based Perry Krieger and Associates Inc. have been appointed trustee-in-bankruptcy. The bankruptcy documents have yet to be published. The Toronto-based liquidation specialist Danbury Sales will handle the sale of Giant's remaining inventory. Click here to read the complete Toronto Star report. Click here to read the report on CityNews.ca. |
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