ELECTRONICS WAREHOUSE OPERATION CLOSES
By Adnews Staff
Multitech Warehouse Direct of Edmonton shut it doors last week after The Bank of Nova Scotia appointed Price Waterhouse as receiver. The electronics retail chain had 18 stores in Alberta, Saskatchewan, Ontario, P.E.I, Nova Scotia, New Brunswick and Newfoundland. The action came over a year after Multitech was granted court protection from creditors. Last July the company set up a deal with its creditors and closed at least 20 stores. However, the bank lost confidence in Multitech in the fall and told the company to find another lender.
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