Groupe Les Ailes de la Mode Inc.
TSX : MOD

Groupe Les Ailes de la Mode Inc.

July 29, 2005 10:31 ET

Groupe Les Ailes de la Mode Comment

BOUCHERVILLE, QUEBEC--(CCNMatthews - July 29, 2005) - At the request of Market Regulations Services Inc., on behalf of the Toronto Stock Exchange and in light of press speculation, Groupe Les Ailes de la Mode Inc. (TOR:MOD) confirms that it is in talks with a potential purchaser regarding the possible sale of its Les Ailes department stores. There can be no assurance that the terms, structure and other conditions of any proposal from the potential purchaser would be acceptable to the Company. There can therefore be no assurance that a transaction would occur or that any agreements would be reached on terms consistent with recent trading prices for its securities. The Company intends to make no further announcements unless an agreement is reached or discussions are terminated.

ABOUT GROUPE LES AILES DE LA MODE

Groupe Les Ailes de la Mode Inc.. is a retailer specializing in men's and women's clothing and related products. It operates two divisions: Les Ailes de la Mode, with stores in Brossard, Laval, Quebec City and Montreal, and the Bikini Village division, which operates 59 swimwear boutiques in Quebec and Ontario. Groupe employs 1,300 people.

Forward-looking statements

This news release contains certain forward-looking statements concerning our future operations, economic performances, financial conditions and financing plans. These statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments as well as other factors we believe are appropriate in the circumstances. However, whether actual results and developments will conform with our expectations and predictions is subject to a number of risks, uncertainties and assumptions. Consequently, all of the forward-looking statements made in news release are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us and our subsidiaries or their businesses or operations.

We undertake no obligation and do 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 Les Ailes de la Mode Inc.
    Mark Boutet
    (514) 843-2385