Court approves sale of Ricki's and Cleo to Toys 'R' Us owner in Ontario

An Ontario court has approved the sale of Comark Holdings Inc.'s Ricki’s and Cleo brands to Putman Investments Inc., the owner of Toys “R” Us Canada and HMV. The deal is valued at approximately $12.8 million and includes inventory and trademarks. Most employees at Ricki’s and Cleo will be offered jobs by Putman. Comark had been struggling financially due to the pandemic, a ransomware attack, and competition from low-cost retailers, leading to creditor protection and store closures. Putman is also involved in a potential sale of Comark's Bootlegger brand, with interest from Warehouse One. A formal bidding process is underway, with a deadline for competing offers set for Thursday.