Leon's and The Brick Acknowledge Competition Bureau Inquiry

Rhea-AI Summary

Leon's and The Brick, major Canadian retailers of furniture, appliances, mattresses, and electronics, have received notification of a Competition Bureau inquiry into their advertising practices. The Federal court has granted an order requiring both companies to provide records and information for the investigation. Both retailers emphasize their commitment to compliance and cooperation with the Bureau, noting their established protocols for meeting advertising standards. No determinations or conclusions have been made regarding the inquiry at this time.

Positive

• None.

Negative

• Competition Bureau investigation into advertising practices could lead to potential penalties or required changes in business practices
• Regulatory scrutiny may impact brand reputation and customer trust
• Compliance costs and legal expenses likely to increase during investigation period

Toronto, Ontario--(Newsfile Corp. - November 20, 2024) - Leon's and The Brick, two of Canada's leading retailers of furniture, appliances, mattresses and electronics, have been notified by the Competition Bureau of an inquiry into their advertising practices.

The Competition Bureau was granted a Federal court order to advance its investigation. The order requires Leon's and The Brick to produce records and information relevant to the Bureau's investigation. This is standard procedure for all inquiries of this nature.

"Leon's has been a part of Canadian households for 115 years, and The Brick for 53," said Audrey Hyams Romoff, corporate spokesperson for Leon's and The Brick. "Both companies offer consumers great products at great prices, providing excellent value. To further their compliance efforts, both Leon's and The Brick have established longstanding protocols to meet advertising standards."

Leon's and The Brick are committed to complying with all regulatory requirements and are cooperating with the Bureau. No determinations or conclusions have been made at this time.

About Leon's and The Brick

Leon's and The Brick offer Canadian consumers a wide range of home furnishings, mattresses, electronics and appliances. Leon's, founded in 1909, operates 85 stores across the country. The Brick established in 1971, operates 209 locations across Canada. Leon's and The Brick are divisions of Leon's Furniture Limited (TSX: LNF).

For more information, please contact:

Audrey Hyams Romoff
OverCat
ahr@overcat.com
Tel: (647) 223.9970

Thalia Policicchio
OverCat
tp@overcat.com
Tel: (647) 970.4774

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/230743

FAQ

What is the Competition Bureau investigating about Leon's and The Brick in 2024?

The Competition Bureau is investigating advertising practices at Leon's and The Brick, requiring both retailers to produce records and information as part of the inquiry.

What action has the Federal court taken regarding Leon's and The Brick investigation?

The Federal court has granted an order to the Competition Bureau to advance its investigation, requiring Leon's and The Brick to produce relevant records and information.

How are Leon's and The Brick responding to the Competition Bureau inquiry?

Both companies state they are cooperating with the Bureau and emphasize their commitment to compliance, noting their established protocols for meeting advertising standards.