One large Canadian Optical Chain in financial difficulties,
source:
http://int.search.myway.com/search/G...eres%20&st=tab
in French, can be translated into English by Google.
One large Canadian Optical Chain in financial difficulties,
source:
http://int.search.myway.com/search/G...eres%20&st=tab
in French, can be translated into English by Google.
43 millions .... incredible around 15 millions to Essilor
Published on May 19, 2017 at 19:02 | Updated on May 19, 2017 at 19:02
La Vue clinics in financial difficulties
"Over the past two years, the company has seen exceptional growth. We have made many acquisitions of eyewear that put additional pressure on the finances of the company, "notes Éric Savard, owner of La Vue clinics. "Today, we are faced with financing challenges to maintain the growth of our network. The company is taking a step back to better bounce, "the businessman said in a statement.
Last October, Mr. Savard announced an investment of more than $ 20 million to acquire the Ontario optician Laurier. With this acquisition, the company that was born in 2001 in Charlevoix climbed to 48 points of service across the country, and the family reached the 250-worker mark.
It was the trustee in bankruptcy Raymond Chabot who was mandated to steer this file. The La Vue clinics, whose headquarters are located in the Fleur de Lys shopping center, remain open and continue their daily activities during the proceedings. Over the next few days, the company will have to present to its creditors a restructuring plan under the Companies' Creditors Arrangement Act.
"WE ALWAYS HAVE THE AMBITION TO ATTACK US IN THE LIGHTWEIGHT MARKET AND WE CONTINUE OUR WORK TO REVOLUTION IN THE FIELD OF OPTICS IN QUÉBEC AND CANADA," SAVARD SAYS.
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It seems they have no cash or liquid equity to pay for these deals. If they need to finance every acquisition, they should be rethinking their business model.
Truth growth is not achieved through acquisition method only and must be derived from grass roots. This Savard character should be released from his duties as his vision is very clouded and not realistic.
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