Liquidation World Inc.

Liquidation World Inc.

July 08, 2011 12:03 ET

Liquidation World Announces Voting Results of Special Meeting in Respect of Arrangement Involving Big Lots, Inc.

BRANTFORD, ONTARIO--(Marketwire - July 8, 2011) - Liquidation World Inc. (the "Company") (TSX:LQW) announced today that its shareholders approved the acquisition by Big Lots, Inc. of all the issued and outstanding common shares of the Company by way of court approved plan of arrangement (the "Arrangement"). 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. No notices of the exercise of dissent rights respecting the Arrangement were received by the Company. The court hearing in respect of the final order to approve the Arrangement is scheduled to occur on Monday, July 11, 2011 at 9:30 a.m. (Calgary time) and the Company will issue a further press release to announce the results of the hearing. Provided that the Arrangement is approved by the Court of Queen's Bench of Alberta and the other closing conditions are satisfied or waived, the Company anticipates that the Arrangement will be completed on or about July 18, 2011.

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

  • Liquidation World Inc.
    Craig Graham
    Interim President
    866-237-3778 (FAX)