The Forzani Group Ltd./Le Groupe Forzani Ltee
TSX : FGL

The Forzani Group Ltd./Le Groupe Forzani Ltee

June 30, 2008 16:15 ET

Athletes World Limited Has Emerged From CCAA

CALGARY, ALBERTA--(Marketwire - June 30, 2008) - The Forzani Group Ltd. (TSX:FGL), Canada's largest retailer of sporting goods, today announced that Athletes World Limited has emerged from CCAA protection. On November 20, 2007, The Forzani Group Ltd. finalized the acquisition of Athletes World Limited, a national retailer of athletic and recreational footwear and apparel. In its most recently completed fiscal year, Athletes World generated $186 million in revenues.

Over the last six months The Forzani Group Ltd has worked with Athletes World Ltd to restructure the organization and its finances. The changes ensure Athletes World is well-positioned to return to profitability. Going forward, the organization will focus on growing and re-establishing its position as a premiere retailer of athletic and 'trend right' street lifestyle footwear and apparel.

The Forzani Group Ltd. is Canada's largest national retailer of sporting goods, offering a comprehensive assortment of brand-name and private-brand products, operating stores from coast to coast, under the following corporate and franchise banners: Sport Chek, Coast Mountain Sports, Sport Mart, National Sports, Athletes World, Sports Experts, Intersport, Econosports, Atmosphere, Tech Shop, Pegasus, Nevada Bob's Golf, Hockey Experts, S3 and The Fitness Source. As well, the Company retails on-line at www.sportmart.ca and provides a content rich sporting goods information site at www.sportchek.ca.

The foregoing information may contain forward-looking statements relating to the future performance of The Forzani Group Ltd. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially. The Company, with the appropriate securities commissions, details these risks and uncertainties from time to time.

Contact Information

  • The Forzani Group Ltd.
    Robert Sartor, CA
    Chief Executive Officer
    (403) 717-1342
    or
    The Forzani Group Ltd.
    Richard Burnet, CA
    Chief Financial Officer
    (403) 717-1442
    Website: www.forzanigroup.com