ICI RESCUES ST. CLAIR
By Adnews Staff
British-based Imperial Chemical Industries PLC signed an agreement last week to acquire the assets of Toronto-based St. Clair Paint & Wallpaper Corp. St. Clair operates a Canada-wide network of retail and wholesale paint and wallpaper stores under the "St. Clair," "The Paint and Paper People" and "Color Your World" banners. ICI says that it intends to continue operating the St. Clair business through company-owned stores and franchise operations. St. Clair had been trying to find an investor to pour money into its troubled business for some time. St. Clair officials could not be reached for comment. Bates O'Rourke of Toronto is St. Clair's agency. ICI is a paint manufacturer which supplies retailers and runs its own chain in Canada.