MONTREAL – Court filings show luggage retailer Bentley & Co. Ltd. has agreed to be sold to Quebec businessman Paul Nassar.
While the value and most terms of the deal have not been revealed, the filings say Nassar will purchase all of Bentley’s assets, assume most of its leases and offer jobs to the majority of its staff.
Montreal-based Bentley has about 700 employees and 130 stores in Canada that sell luggage, handbags, backpacks and other accessories.
Nassar owns the Hart chain, which is behind the Méga Meubles and Maison en gros retailers, and recently purchased discount brand Korvette.
The decision to sell Bentley to Nassar came after owner HUK 94 Ltd. was strained by the COVID-19 pandemic, supply chain disruptions and an October 2023 ransomware attack.
Court filings say HUK 94 owner and turnaround specialist Hilco Canada agreed to start looking for a buyer for Bentley on June 17.
Bentley and Nassar did not respond to requests for comment.
This report by The Canadian Press was first published July 29, 2024.
