Thank you, Mr. Speaker. This is in response to a question asked by Mr. Morin on April 22, 1999, with regard to closure of southern outlets of Arctic Canada Trading Company Ltd. The official name of the company is Arctic Canada Trading Company Ltd. It is 100 percent wholly owned by the Northwest Territories Development Corporation. The general manager is Clyde Sigurdson who reports to the president of the Northwest Territories Development Corporation.
At one time Arctic Canada Trading Company Ltd. had five retail outlets in southern Canada. They owned and operated retail outlets in Victoria, B.C.; Calgary, Alberta; White Rock, B.C.; and two in Toronto - one at the Pearson Airport and one at Queens Quay in downtown Toronto. In December, 1998, the management of Arctic Canada Trading Company Ltd. decided to close the retail outlet in Victoria effective March 31, 1999. Official notice to cancel the lease arrangement was given to the landlord at that time. A closing sale was held in January and February, and the balance of the unsold inventory was shipped back to the Yellowknife warehouse in March, 1999.
On January 31, 1999, the management of Arctic Canada Trading Company Ltd. decided to close the retail outlet in Calgary and cancel the lease arrangements effective April 30, 1999. Currently, we have a contract with IMI Marketing to manage the wholesale and corporate sales until April 30, 1999. The unsold inventory will be shipped to Yellowknife once the operation closes. On March 26, 1999, Mr. Joseph Handley, the acting president of the Northwest Territories Development Corporation, and Mr. Clyde Sigurdson, the general manager of Arctic Canada Trading Company Ltd., made a decision to close the retail outlet in White Rock, B.C. An arrangement has been made with a private individual to take over this store and sell our northern products on a consignment basis. All remaining inventory has been consigned to the new owner/manager.
Effective April 1, 1999, the two retail outlets in Toronto are owned by the Nunavut Development Corporation. Arrangements are being negotiated for this transfer. Nunavut Development Corporation has agreed to retail western products through these outlets on a consignment basis. In the interim, Arctic Canada Trading Ltd. is still managing and operating these two retail outlets. Arctic Canada Trading Company Ltd. is still a subsidiary of the Northwest Territories Development Corporation, however, with a reduced operation. Their mandate is to coordinate, develop, and promote and market Northwest Territories art, souvenirs, garments, crafts, fashion accessories and food products. Thank you.