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Friday July 29th, 2016

Posted at 8:35pm

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Ben Moss Jewellers will start going out of business sales Saturday at all of their 54 Canadian locations, including the one at Devonshire Mall.

Sales will offer storewide discounts of up to 40% on all merchandise, including the entire stock of fine jewelry in gold and silver as well as premier Canadian diamond collections.

Winnipeg-based Ben Moss has been Canadian owned and operated since 1910. Hit by a weak Canadian dollar and the soft economy in Western Canada, Ben Moss obtained court protection under the CCAA several months ago. Working with Alvarez & Marsal Canada Inc., the court-appointed monitor as part of its turnaround efforts, Ben Moss hired Gordon Brothers Canada to manage closing sales at 11 of their underperforming stores in May.

“After considering all of our restructuring options, including selling all or part of the business as a going concern, we have determined that this is the best course based on the challenges we are facing,” said Naveed Manzoor of FAAN Advisors Group Inc., Chief Restructuring Officer of Ben Moss.

Store fixtures, furniture and equipment will also be available for sale at a later date.

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