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“Today, our landlords presented us with an unexpected and immediate opportunity to vacate both locations. Given the current economic conditions and uncertain future, we have decided to exercise this option and return the property to our landlords.”
Canyon Creek is run by SIR Corp., which also oeprates Jack Astor’s and Scaddabush in Toronto.
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The Dixon Road, Vaughan Mills and Fallsview Niagara locations of Canyon Creek will remain open.
“We want to thank our valued guests and team members for their loyalty and support during these unprecedented times,” said the restaurant’s announcement.
SIR Royalty Income Fund Announces Filing of SIR Corp Fiscal 2021 First Quarter Results newswire.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from newswire.ca Daily Mail and Mail on Sunday newspapers.
January 06, 2021 - 9:20 AM
TORONTO - SIR Corp. says it has made an offer to take the SIR Royalty Income Fund private in a deal worth about $30 million.
The company, which runs Jack Astor s Bar and Grill as well as other restaurants, says it has made a non-binding proposal to the fund at a price of $3.55 per unit.
Trading in SIR Royalty Income Fund units was halted ahead of the news of the offer. The units last traded for $3.70 before trading was stopped on the Toronto Stock Exchange.
SIR says it has told the fund s trustees that it is considering asking for a meeting of the fund s securityholders if the trustees do not wish to call a meeting to allow the securityholders to consider the proposal.
SIR Corp. makes offer to take SIR Royalty Income Fund private in $30M deal
by The Canadian Press
Last Updated Jan 6, 2021 at 12:28 pm EDT
TORONTO SIR Corp. says it has made an offer to take the SIR Royalty Income Fund private in a deal worth about $30 million.
The company, which runs Jack Astor’s Bar and Grill as well as other restaurants, says it has made a non-binding proposal to the fund at a price of $3.55 per unit.
Trading in SIR Royalty Income Fund units was halted ahead of the news of the offer. The units last traded for $3.70 before trading was stopped on the Toronto Stock Exchange.