Groupe Bikini Village inc.

Groupe Bikini Village inc.

February 17, 2015 10:12 ET

Groupe Bikini Village Files a Notice of Intention to Make a Proposal to its Creditors; Currently Continues to Operate

SAINTE-JULIE, QUEBEC--(Marketwired - Feb. 17, 2015) - Groupe Bikini Village inc. (TSX VENTURE:GBV) ("Groupe Bikini Village" or the "Corporation") has filed a notice of intention to make a proposal to its creditors in accordance with the Bankruptcy and Insolvency Act (Canada). PricewaterhouseCoopers Inc. ("PWC") has been retained as trustee. In addition to its legal responsibilities, PWC will assist the Corporation in making a proposal to its creditors, which will be submitted to them at a meeting to be held at a date yet to be determined. In the meantime, the Corporation will benefit from a stay with regards to debt payments and to any creditor proceeding. With respect to its customers and employees, the Corporation currently continues to operate in the ordinary course of business. The Corporation thanks its customers, employees and suppliers for their continued support through this difficult period for Canadian retail.

About Groupe Bikini Village

Groupe Bikini Village inc. is a leading swimwear retailer with a network of stores across Eastern Canada. In its inviting stores, Bikini Village helps its customers choose from among Canada's widest selection of swimwear, beachwear, travel clothing and beach accessories. Headquartered in Sainte-Julie, Quebec, Groupe Bikini Village operates 52 stores and employs approximately 400 people; its securities trade on the TSX Venture Exchange under the stock symbol GBV. For more information about Groupe Bikini Village, please visit our website at

Disclaimer regarding forward-looking statements

Certain statements included in this press release may constitute "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements are necessarily based on a number of estimates and assumptions that, while considered reasonable by management when they are made, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. For example, the Corporation may not submit a proposal acceptable to its creditors and may not be able to continue to operate in the ordinary course of business. Investors are cautioned not to place undue reliance on forward-looking statements. The Corporation disclaims any intent or obligation to update publicly these forward-looking statements, whether as a result of new information, future events or other development unless required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as these terms are defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

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