Ontario court approves sale of Bootlegger stores to subsidiary of parent company [Video]

An Ontario court has given Comark Holdings Inc. permission to sell its Bootlegger business to a subsidiary of its parent company.

The sale approved by Ontario Superior Court judge Peter Cavanagh will allow the apparel retailer’s numbered parent company to operate Bootlegger stores through its affiliate Warehouse One Clothing Ltd.

Bootlegger was founded in 1971 and had 53 standalone stores and 19 it shared with Ricki’s and Cleo, brands Comark sold to Toys “R” Us Canada owner Putman Investments for $14.4 million as part of its recent creditor protection proceedings.

Court documents say several parties were interested in purchasing Bootlegger but none ultimately placed a bid for the business, paving the way for the retailer to wind up in the hands of its parent and Warehouse One.

The filings say the purchaser has reached agreements with Bootlegger’s landlords to retain 45 leases. Some will be converted to Warehouse One stores …