Liquidation World Inc.

Liquidation World Inc.

July 18, 2011 17:42 ET

Liquidation World Announces Closing of the Acquisition by Big Lots, Inc.

BRANTFORD, ONTARIO--(Marketwire - July 18, 2011) - Further to its press releases of May 26, July 8 and July 11, 2011, Liquidation World Inc. (the "Company") (TSX:LQW) is pleased to announce that it has completed its previously announced plan of arrangement (the "Arrangement") pursuant to which Big Lots, Inc. ("Big Lots") acquired all of the issued and outstanding common shares of the Company.

The Arrangement was approved at the special meeting of the Company's shareholders on July 8, 2011 by 97.53% of the votes cast by the Company's shareholders voting together as a single class and by the Court of Queen's Bench of Alberta on July 11, 2011. Pursuant to the Arrangement, each shareholder of the Company received $0.06 per share.

It is anticipated that the Company's shares will be delisted from the Toronto Stock Exchange within three business days.

About Liquidation World

Liquidation World currently operates approximately 90 stores in Canada. Liquidation World is based in Brantford, Ontario. The Company opened its first store in Calgary, Alberta in 1986 and today, with more than 1,100 employees, is Canada's largest operator of closeout retail stores.

Contact Information

  • Big Lots
    Timothy A. Johnson
    Vice President, Strategic Planning and Investor Relations