Groupe Bikini Village inc.

Groupe Bikini Village inc.

October 15, 2010 11:30 ET

Groupe Bikini Village Inc Announces a Change to its Board of Directors

SAINTE-JULIE, QUEBEC--(Marketwire - Oct. 15, 2010) - Groupe Bikini Village inc. (TSX:GBV) ("Groupe Bikini Village" or the "Company") today announced that the Company's board of directors has received and accepted the resignation of Mr. Scott Leckie, director of the Company, and would like to thank him for his services. The resignation of Mr. Leckie takes effect immediately.

"In order to fulfill a contractual commitment made by me at the time of the acquisition of my firm Aquilon Capital by National Bank Financial, I must, at this time step down from the board of the Company. When I initially became involved with Groupe Bikini Village it was because I saw an intrinsic value opportunity in a brand that has strong resonance in the Quebec market, and great potential to enhance its perception in the Ontario market and beyond. Under the leadership of Yves Simard many improvements have been made to the structure of the organization including the recent rights offering/private placement which eliminates any capital inadequacies that may have prevented the Company from capturing the many new opportunities before it. Groupe Bikini Village is on a stronger footing today than it was three years ago. There is much work still to be done in order to maximize the Company's business potential and I wish the Board and management every success in this endeavour" said Mr. Leckie.

Following Mr. Leckie's resignation, the board has immediately initiated a search for a director who could take on this role and these responsibilities.

About Groupe Bikini Village

Groupe Bikini Village inc., serving Canadians for almost a quarter-century, is a leading swimwear retailer with a network of new and renovated boutiques across Eastern Canada. In its bright and inviting stores with comfortable change rooms and knowledgeable staff, Groupe Bikini Village helps its customers choose from among Canada's widest selection of swimsuits, beach accessories, and cruisewear, in the most popular brands the industry has to offer and in styles to suit every figure. The newest addition to its retail network, Lanaï, offers the most popular clothing brands for young women in Brossard, Quebec. Headquartered in Sainte-Julie, Quebec, Groupe Bikini Village inc. operates 60 stores and employs approximately 500 people; its securities trade on the Toronto Stock Exchange under the stock symbol GBV. For more information about Groupe Bikini Village inc., please visit our website at

Forward-looking statements

This news release contains certain forward-looking statements concerning Groupe Bikini Village inc.'s future operations, economic performance, financial conditions and financing plans. These statements are based on certain assumptions and analyses made by management in light of their experience and their perception of historical trends, current conditions and expected future developments, as well as other factors they believe are appropriate under the circumstances. However, whether actual results and developments will conform to management's expectations and predictions is subject to a number of risks, uncertainties and assumptions. Consequently, all of the forward-looking statements made in this news release are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by management will be realized or, even if substantially realized, that they will have the expected consequences or effects on the Company. Management undertakes no obligation and does not intend to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable law.

Contact Information

  • Groupe Bikini Village Inc.
    Yves Simard
    President and Chief Executive Officer
    450-449-1310 ext 4797