Deposits will be honoured

Customers who put money down on furniture at The Living Room and The Bedroom Shoppe before the stores closed will receive their products, says the man overseeing the liquidation.

Customers who put money down on furniture at The Living Room and The Bedroom Shoppe before the stores closed will receive their products, says the man overseeing the liquidation.

The two stores at Liberty Crossing in Gasoline Alley, which are owned by Russell Ventures Ltd., ceased operations late last month. Russell Ventures was subsequently assigned into bankruptcy and Hudson & Company Insolvency Trustees Inc. named trustee.

Ingenious Ideas Inc. of Moncton, N.B., has been contracted to sell the stores’ assets, with the liquidation scheduled to begin Wednesday at noon.

Ingenious Ideas owner Bernie Caspick said on Monday that Russell Ventures’ creditors have agreed and the court has authorized that customers who paid a deposit or the full price of goods should receive them.

That was encouraging news for Susan Munn, who placed a deposit on a pair of couches before the stores closed. She had become worried after telephone calls and even a registered letter to Hudson & Company went unanswered.

Caspick, who said he would call Munn after he learned about her concerns, said he’s been contacted by customers.

“I sympathize with these people. If I had paid $1,500, $2,000, $4,000 up front and not received my product, and then the store went into bankruptcy, I’d be terribly upset.”

He said prepaid customers will be able to complete their transactions if they present proof of purchase and pay the balance owing. However, they’ll have to wait until next Monday.

Caspick explained the list of who’s entitled to product and how much they’ve paid has just been compiled, and it would be too difficult to deal with those customers while conducting the liquidation’s first days.

“Wednesday, Thursday, Friday, Saturday, Sunday it’s going to be a zoo in here.”

Customers will also have to arrange for delivery of their goods or pay an extra fee for it, regardless of what they were previously promised, said Caspick.

In addition to their stores in Red Deer County, The Bedroom Shoppe and The Living Room each operated at two locations in Calgary and at one in Okotoks, and shared an outlet store in Calgary.

With merchandise deeply discounted and in some cases selling at below cost, Caspick doesn’t expect the liquidation will continue very long.

“I doubt I’ll get to mid-August.”

A letter from Hudson & Company sent out to Russell Ventures creditors in late June identified approximately 50 individuals and companies that were owed a combined $3.3 million.

The Bedroom Shoppe and The Living Room, opened at Liberty Crossing in December 2007.

Todd and Wanda Markin are partners in Russell Ventures.

Just Posted

UPDATED: Economy and health care expected to be hot election topics

Premier Rachel Notley makes announcement on Tuesday morning

Cruel and sadistic: Central Alberta dog rescuers believe there are dog fighting rings in province

With the increased number of stolen dogs, some central Alberta rescuers are… Continue reading

Red Deer hospital expansion recognized in throne speech

Society for Hospital Expansion in Central Alberta calls for more details

Mixed Nuts revue presented Saturday to kick off first Carole Forhan Theatrical Scholarship

Broadway songs, comedy skits are part of the Red Deer Players production

Opinion: Let’s be heard ‘loud and clear’ during provincial election campaign

By David Marsden During the banquet for Sunday’s Boston Bruins alumni game,… Continue reading

Documentary on Colten Boushie case to open Toronto’s Hot Docs festival

TORONTO — A film examining the case of a young Indigenous man… Continue reading

Want to help bees? Plant flowering herbs

Herbs are among the most useful plants in nature. They can tantalize… Continue reading

UN: Gene editing for human reproduction is ‘irresponsible’

GENEVA — A panel convened by the World Health Organization said it… Continue reading

Photos: Three moose spotted in Red Deer Tuesday

Three moose were spotted in Red Deer Tuesday morning. Red Deer resident… Continue reading

Andreescu rockets to No. 24 in WTA Tour rankings after Indian Wells title

Canada’s Bianca Andreescu has rocketed to No. 24 in the WTA Tour… Continue reading

Canadian figure skaters looking to reach new heights at world championships

Nam Nguyen, Alaine Chartrand and Kirsten Moore-Towers and Michael Marinaro all have… Continue reading

Man linked to largest art heist in history freed from prison

HARTFORD, Conn. — A reputed Connecticut mobster who federal authorities believe is… Continue reading

Most Read