For sale signs can be seen in front of several Nygard stores after Manitoba’s Court of Queen’s Bench approved the liquidation of a group of companies owned by Winnipeg fashion tycoon Peter Nygard.
Court documents dated April 29, describe the judge’s approval for Richter Advisory Group Inc. to start the sale of company assets.
On March 18, nine Nygard companies went into receivership and have been under the control of Richter Advisory Group Inc. since.
After the court’s recent decision, three Nygard properties in Winnipeg, “Broadway,” “Notre Dame,” and “Inkster,” have been put up for sale.
The 702-708 Broadway is listed by Colliers Int. for $2,495,000 and is described as a “rare to market parcel located in one of Winnipeg’s most dense urban areas.”
The second property, 1300, 1302, 1340 Notre Dame and 1440 Clifton Street, is listed for $5,245,000.
The last property, 1771 Inkster Boulevard, is listed for $8,500,000 and, according to Colliers Int., boasts millions of dollars in recent updates.
The judge granting the sale approval order, also granted the request for a store closing sale to be held at a later date.
Canadian fashion mogul Peter Nygard is facing a class-action lawsuit of 46 women who allege the rape, sexual assault, and sex trafficking of young and impressionable women and teens.
Nygard announced he would be stepping down from his company back in February, hours after the FBI and New York City police raided Nygard headquarters in Times Square.
Nygard’s lawyer maintains the accusations are completely false. The allegations have not been tested in court.