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Leon's Furniture Ltd. (TSX: LNF) (Meubles Léon Limité in Quebec) is a Canadian furniture retailer which first opened its store in 1909 in Welland, Ontario. The controlling interest in the company is owned by the Leon family, while some shares are traded publicly on the Toronto Stock Exchange .
In 2006, 24 stores were rebranded as "The Brick" in a strategic attempt to save on advertising costs and increase sales. [7] On November 11, 2012, The Brick announced that competitor Leon's would acquire the company for $700 million subject to approval of shareholders. Following the acquisition, Leon's maintains the two separate chains. [8]
Levitz Furniture store during liquidation sale, December 2007. Levitz was accused of having been poorly run for more than a decade starting in the 1990s. It declared Chapter 11 bankruptcy twice during the period, in 1997 and again in 2005, both times emerging after a corporate restructuring and the participation of new outside backers. [3]
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