November 28, 2014 12:57 AM ET

Specialty Retail

Company Overview of The Brick Ltd

Company Overview

The Brick Ltd. engages in retailing and financial services businesses in Canada. The company’s Retail segment is involved in the retail of household furniture, including living room and dining room, bedroom, kitchen, accent, and home office furniture, as well as area rugs and decorative accessories; mattresses, such as regular and children’s mattresses, futon sets, linens, metal bed frames, and master bedroom sets; appliances comprising dishwashers, laundry appliances, microwaves, refrigerators, vacuums, and cooking ware; and home electronics that include audio and video equipment, digital satellite equipment, electronic accessories, home theatre systems, home theatre accessories, and televi...

16930-114 Avenue

Edmonton, AB T5M 3S2

Canada

Founded in 1971

3,935 Employees

Phone:

514-695-9249

Key Executives for The Brick Ltd

President
Executive Chairman
Age: 55
Independent Director
Age: 82
Vice President of Finance
Senior Vice President of Merchandising
Compensation as of Fiscal Year 2014.

The Brick Ltd Key Developments

The Brick Ltd Announces Executive Changes

Leon's Furniture Limited announced the resignation of Vi Konkle as President of The Brick Ltd., effective September 27, 2013. Konkle has served as President of the Brick since 2012. Leon's also announced the appointment of Jim Caldwell as President of The Brick Ltd. Jim brings a wealth of experience in the retail industry including his recent position as Senior Vice President of Operations for The Brick. Previously Jim served in several senior positions with Walmart Canada.

Canadian Competition Bureau Accuses Leon's Furniture Ltd. and The Brick for Deceptive Promos

The Canadian Competition Bureau is targeting Leon's Furniture Ltd. and its subsidiary, The Brick, for what it believes are deceptive marketing practices related to its popular and frequent "buy now, pay later" promotions. In a statement, the federal business watchdog said its investigation revealed, among other things, that customers were required to pay up-front fees, despite the promise inherent in the "buy now, pay later" promotion. The bureau, an independent law enforcement agency policing business practices, has filed an action with the Ontario Superior Court of Justice seeking an end to what it described as a "type of deceptive advertising" and seeking refunds for all customers who paid administration or processing fees from Leon's and The Brick. The bureau accuses Leon's and The Brick of burying details of additional up-front fees in the purchase agreement's fine print, which led to the final price of the product sold being higher than the advertised price for those consumers using the deferred payment option. Depending on applicable fees due at the time of purchase (which may include processing or administrative fees, delivery fees and taxes), the bureau continued, a customer wanting to defer payment on a CAD 1,500 sofa could end up paying more than CAD 350 at the time of purchase, even though the advertisements clearly state that no payment is required at the time of purchase.

The Brick Ltd Announces Management Changes

Leon's Furniture Limited and its subsidiary The Brick Ltd. announced the resignation of Ken Grondin, Chief Financial Officer and President of Financial Operations of The Brick. Mr. Grondin has served as Chief Financial Officer and President, Financial Operations of The Brick since July 2011. Dominic Scarangella, Vice President and Chief Financial Officer of Leon's, will continue to oversee the reporting requirements of Leon's and its subsidiaries, including The Brick. Orest Pyshniak, C.A., the Vice President of Finance of The Brick, along with The Brick's Finance Department, will continue to report to Vi Konkle, President of The Brick.

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