DYLEX ANNOUNCES POSSIBLE SALE
By Adnews Staff
Toronto-based Dylex Limited announced yesterday it is in preliminary discussions with a third party regarding the sale of the company. The specialty retailer, whose operating divisions include BiWay, Braemar, Fairweather and Labels, made the announcement just weeks after it announced the sale of its men retail division Tip Top Tailors to Toronto-based Grafton-Fraser for $32.2 million. Dylex announced that although it is in talks, at this stage it is unsure any agreement or transactions will be made. According to Dylex, "Dylex will make further announcements of any material developments if, and when appropriate." The company made the announcement in response to increased trading volume as well as in response to inquiries that rose as a result of marketplace rumors.