| Adventure Electronics |
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Founded in 1989 by Robert Fragman , it went bankrupt on November 16 , 1998 . All Adventure Electronics' 143 stores were closed, and 1,271 jobs were lost within 85 stores in Québec and 58 in Ontario . In an official statement, the leaders of this chain of distribution of electronic products stress that their decision was made inevitable following the loss of the financial support their principal creditors. Scotiabank , by far the principal creditor guaranteed with a credit of almost CAD$ 36,000,000, had given an opinion of defect one week ago and half. Adventure Electronics, not having been able to find the funds necessary to the re-establishment of its situation, the chain, which was committed in a plan of rectification since the beginning of 1998, had to resign itself to close its 143 stores. This was blamed on rival Future Shop's expansion into Quebec in 1995 . With the demise of Adventure Electronics in 1998, this left Future Shop as its only big-box consumer electronics retailer until Best Buy expanded into Canada in 2002 . |
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