WISE STORES INC. - PEOPLES DEPT. STORES INC. WAS ADJUDGED BANKRUPT
TODAY IN VIRTUE OF A JUDGMENT OF THE SUPERIOR COURT
MONTREAL, QUEBEC--JAN. 13, 1995--WISE STORES INC.(ME: WSI.A
) Peoples Department Stores Inc. was adjudged bankrupt today in virtue of a
Judgment of the Superior Court pursuant to an Application made by Marks &
Spencer Canada Inc. and Marks and Spencer p.l.c. The Company did not contest
The Application of the Toronto-Dominion Bank to have Wise Stores Inc.
adjudged bankrupt was withdrawn by the Bank. Accordingly, the liquidating
Proposal filed by the Company on Wednesday, January 11th, 1995 will follow its
normal course and the creditors will be convened to a meeting on January 31,
1995 to consider the Proposal and the affairs of the Company.
CONTACT: Maison Brison
Rick Leckner, (514) 731-0000