Customers reassured

More than 50 individuals and companies from Central Alberta have been listed as unsecured creditors of Russell Ventures Ltd., the bankrupt owner of The Bedroom Shoppe and The Living Room.

More than 50 individuals and companies from Central Alberta have been listed as unsecured creditors of Russell Ventures Ltd., the bankrupt owner of The Bedroom Shoppe and The Living Room.

Most are customers who paid deposits on furniture they haven’t received, but the man overseeing the liquidation of the stores’ assets said they will get their products.

Bernie Caspick is owner of Ingenious Ideas Inc., a New Brunswick-based company that’s been contracted to sell the assets of The Bedroom Shoppe and The Living Room. The stores, which operated in Liberty Park south of Red Deer and in Calgary and Okotoks, closed in late June.

The liquidation sale started Wednesday, but Caspick requested that customers who made payments for furniture prior to the bankruptcy wait until Monday, July 20, before coming to the stores.

That generated concerns among some customers that furniture they paid for might be sold.

Caspick repeated on Thursday that the timelines were structured to minimize traffic and confusion at the stores during the busy opening days of the sale. He added that the list of customers owed product was only recently finalized and that some of their furniture was inaccessible behind other goods.

“Everybody who paid money down or paid in full will get their product,” said Caspick.

Hudson & Company Insolvency Trustees Inc. is the court-appointed trustee of Russell Ventures’ estate. Robert Price, a vice-president with Hudson & Company, confirmed Caspick’s intent.

“The liquidator, which is Bernie, has agreed that he will bring in the orders and that he will take care of collecting the balance of the funds from the customer and they’ll be able to pick up the order.”

Price said customers who have paid a deposit for goods in the possession of a bankrupt party are normally able to complete the transaction.

“That’s just ordinary business in bankruptcy. If you can identify what it is that you bought and you can show that you bought it and paid for it, then you get it.”

However, if the purchased goods haven’t been received from the supplier, the deposit would normally be forfeited, said Price.

“In this particular case, the liquidator has agreed that he will take that responsibility on to bring the product in so the customers will get their goods.”

Hurdles might remain, he acknowledged, such as arranging for manufacturers to build furniture that hasn’t been started.

“It doesn’t appear that there’s a lot that hasn’t been produced,” added Price.

Caspick also pointed out that some furniture destined for Central Alberta customers remains in Calgary, with its delivery now the responsibility of the buyers.

The Bedroom Shoppe and The Living Room liquidation sale, which Caspick said has been “phenomenol” so far, continues.

hrichards@bprda.wpengine.com

Just Posted

Blood donations needed in Central Alberta: Canadian Blood Services

357 donors are needed before Aug. 26 at the Red Deer clinic

Warkentin seeks UCP nomination

Another nominee for Red Deer North

UPDATED: Red Deer air quality risk rated high

Poor air quality and reduced visibility

WATCH: Annual Family Picnic at Central Spray and Play

Blue Grass Sod Farms Ltd. held the Annual Family Picnic at the… Continue reading

Boy, 11, dies after being struck by payloader on southern Alberta ranch

BOW ISLAND, Alta. — A boy has died after an accident on… Continue reading

Liberals look at creating federal holiday to mark legacy of residential schools

OTTAWA — The federal Liberal government wants to establish a holiday to… Continue reading

Thousands of police officers expected at regimental funeral in Fredericton

FREDERICTON — Thousands of police officers and first responders from across the… Continue reading

B.C. declares state of emergency over wildfires

VICTORIA — The British Columbia government has declared a provincial state of… Continue reading

As service refusals make headlines, experts say businesses usually in the wrong

Two Canadian businesses that recently made headlines for refusing customers have learned… Continue reading

Irregular asylum claims increased in July after two months of decline

OTTAWA — The number of irregular border crossers in Canada went up… Continue reading

Knocking down statues no way to address a troubled history, McKenna says

OTTAWA — The minister responsible for Parks Canada says tearing down statues… Continue reading

Turning on Trump doesn’t buy credibility for black Americans

WASHINGTON — For years, Omarosa Manigault Newman stood at Donald Trump’s side,… Continue reading

Most Read


Five-day delivery plus unlimited digital access for $185 for 260 issues (must live in delivery area to qualify) Unlimited Digital Access 99 cents for the first four weeks and then only $15 per month Five-day delivery plus unlimited digital access for $15 a month