Winnipeg Free Press
Last Modified: 12:30 PM CDT Monday, Mar. 15, 2021 | Updates
Workers place new siding over what once was a large ‘N’ for the Nygard logo outside the southeast corner of the new Total Flooring at 702 Broadway. (Ruth Bonneville / Winnipeg Free Press)
When workers took down the giant “N” from the building at the corner of Broadway and Sherbrook Street last week, passing cars honked and pedestrians cheered: the letter stood for Nygard, and the symbolism of its removal clearly resonated with the daily traffic in West Broadway.
When workers took down the giant N from the building at the corner of Broadway and Sherbrook Street last week, passing cars honked and pedestrians cheered: the letter stood for Nygard, and the symbolism of its removal clearly resonated with the daily traffic in West Broadway.
The Nygard Group of companies owed $50 million to creditors, including nearly $30 million to American lender White Oak Commercial Finance, when it was placed under receivership in March by Manitoba Court of Queen s Bench Justice James Edmond.
Last November, Edmond approved the sale of 1771 Inkster Blvd. and set Jan. 18, 2021, as the closing date. The Nygard Group tried to block the sale and regain control of the two remaining properties.
They argued White Oak had been paid in full and asked the judge to end the receivership. The case ended up in the Manitoba Court of Appeal which sided with the receiver and approved the Inkster sale. It s now set to close Feb. 8. If approved, the Broadway sale would close Feb, 15.