Stern Partners acquires retail business and assets of Comark

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) which consist of some 300 retail stores and related office and warehouse space operating under the banners Bootleggers, Cleo and Ricki’s. Financial terms were undisclosed. On April 2, 2015, Pacific West entered into an asset purchase agreement with Comark. 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, which commenced a sale and investor solicitation process prior to the agreement. Pacific West Commercial Corporation is a Vancouver-based company that owns and operates paper mills. Fasken Martineau was counsel to Pacific West and Stern Partners with a team that included John F. Grieve, Stuart Brotman and Dylan A. Chochla (insolvency/restructuring), Kareen A. Zimmer, Don M. Dalik , Marcus Turner (corporate/M&A), David A. Martin and Chris Sharpe (real estate), Lorene A. Novakowski (employment), Frank Schober (tax), and Huy A. Do (competition).