WHITE ROSE ANNOUNCES STRONG SALES, AGENCY SEARCH
By Adnews Staff
White Rose Crafts & Nursery Sales of Markham, Ont. has announced that it will be seeking an agency of record within two months. The company reports that it is experiencing a better year then last with the announcement of higher then projected sales figures. White Rose is currently operating under an Order of the Ontario Court in compliance with the Companies' Creditors Arrangement Act. That order requires the monitor to report to the court every two months on the Company's financial progress. PricewaterhouseCoopers Inc., White Rose's court appointed monitor, has released its second report, announcing sales figures of $12.6 million for the period from Dec. 23, 98 to Feb. 14, 99. This figure is five per cent higher than was projected in a cash flow forecast submitted to the Ontario Court on Dec. 23. The report attributes the Company's strong sales to the replenishment of core inventory items and a surplus inventory liquidation sale recently initiated in all White Rose stores. White Rose operates 32 stores and owns and operates two farms, located in Uxbridge and Wellington, Ontario. Advertising for White Rose is currently handled in-house.