Latest news with #Dorel
Toronto Star
5 days ago
- Business
- Toronto Star
Dorel Provides Update on Long-Term Debt
MONTRÉAL, Aug. 07, 2025 (GLOBE NEWSWIRE) — Dorel Industries Inc. (TSX: DII.B, DII.A) today announced that on August 7, 2025, it again amended its asset backed loan (ABL) facility and term loan facility whereby Dorel's lenders agreed to continue to forebear from enforcing their rights and exercising their remedies under both the ABL facility and term loan facility further to a default by Dorel relating to certain financial covenants. The initial forbearance period commenced on May 9, 2025 and has now been extended to the earlier of September 16, 2025 and the occurrence of any event of default, other than the current event of default, under the ABL facility or term loan facility. Dorel will receive access to US$20.0 million additional liquidity in three tranches under the ABL facility in order to finance new inventory and must continue to provide the lenders with additional reporting during the forbearance period. In addition, the total maximum availability under the ABL facility was decreased to US$150.0 million as part of the amendment. As at June 30, 2025, the total amount of borrowings outstanding under the ABL facility was approximately US$92.0 million. In addition, as previously announced, the Company is continuing to work with two leading capital market advisors to assist in re-capitalizing the Company's balance sheet to allow for growth in the Juvenile segment and support the re-organization of the Home segment. The new structure is intended to replace the current debt structure which no longer matches the Company's needs. Dorel will update stakeholders on developments as they arise.
Hamilton Spectator
01-08-2025
- Health
- Hamilton Spectator
Stool sold in Canada recalled over ‘serious' fall and injury risks
Health Canada issued a product recall notice for the Cosco 2-Step Kitchen Stool due to fall and injury hazards. 'Immediately stop using the safety bar on the recalled kitchen stool and store it away from children until repaired,' Health Canada warns in the July 31 recall notice . 'The safety bar can detach or break while in use, posing serious fall and injury hazards to consumers.' Consumer product recall for Cosco 2-Step Kitchen Stool due to fall and injury hazards. The recall involves the Cosco 2-Step Kitchen Stool with a folding step stool, two steps and a safety bar attached to the back. Model numbers impacted: 11349WHG1E, 11349GRN1E, 11349NVY1E, 11349WHG2, 11349GRN4, 11349GRN12, 11349WHG12C, 11349WHG12W, 11349WHG4F and 11349CBWH4T. Stools are sold in colours white and grey, green, navy and blue. Between August 2022 to July, 11,197 units of the recalled stools were sold in Canada and 302,000 were sold in the U.S. As of July 24, there's been one reported safety bar break incident reported — but no injuries. In the U.S., the company has received 34 reports of the safety bar detaching or breaking, which have caused two head injuries. Customers are told to contact Dorel to receive a free repair kit , which includes shipping. The repair kit includes a sliding locking mechanism that attaches to the safety bar to prevent the safety bar from detaching or breaking during use, the company explains on its recall notice. Consumers will get installation instructions and an additional warning label to place on the stool. You can report a food concern or complaint to the Canadian Food Inspection Agency online. Consumers can report any health or safety incidents related to the use of products by filling out a consumer product incident report form . Report any drug or health product side effects or complaints to Health Canada. You can check for more recall notices published by Health Canada and CFIA online . Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Toronto Sun
30-06-2025
- Business
- Toronto Sun
Dorel Industries to close domestic manufacturing operations
Published Jun 30, 2025 • 1 minute read The corporate logo for Dorel Industries Inc. is shown in this handout photo. Photo by HO / THE CANADIAN PRESS MONTREAL — Dorel Industries Inc. is restructuring its operations to cut the size of its home segment and eliminating its domestic manufacturing operations based in Cornwall, Ont. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The company says the decision to cease all Dorel Home manufacturing operations in North America was made after an extensive review. It says the move will result in substantial savings based on a smaller footprint and workforce and eliminate the losses from the domestic operation. Dorel's home business produces a wide range of home furnishings, while its juvenile business is focused on products such as child car seats, strollers and other baby gear. The wind-down of the home operations is expected to be complete by the end of the third quarter. Dorel says the benefits of these changes are expected to improve earnings by the fourth quarter of this year. World Toronto Maple Leafs Canada Sunshine Girls Sunshine Girls
Winnipeg Free Press
30-06-2025
- Business
- Winnipeg Free Press
Dorel Industries to close domestic manufacturing operations as it cuts home segment
MONTREAL – Dorel Industries Inc. is restructuring its operations to cut the size of its home segment and eliminating its domestic manufacturing operations based in Cornwall, Ont. The company says the decision to cease all Dorel Home manufacturing operations in North America was made after an extensive review. It says the move will result in substantial savings based on a smaller footprint and workforce and eliminate the losses from the domestic operation. Dorel's home business produces a wide range of home furnishings, while its juvenile business is focused on products such as child car seats, strollers and other baby gear. The wind-down of the home operations is expected to be complete by the end of the third quarter. Dorel says the benefits of these changes are expected to improve earnings by the fourth quarter of this year. Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published June 30, 2025. Companies in this story: (TSX:DII.B, TSX:DII.A)
Yahoo
30-06-2025
- Business
- Yahoo
Dorel Industries to close domestic manufacturing operations as it cuts home segment
MONTREAL — Dorel Industries Inc. is restructuring its operations to cut the size of its home segment and eliminating its domestic manufacturing operations based in Cornwall, Ont. The company says the decision to cease all Dorel Home manufacturing operations in North America was made after an extensive review. It says the move will result in substantial savings based on a smaller footprint and workforce and eliminate the losses from the domestic operation. Dorel's home business produces a wide range of home furnishings, while its juvenile business is focused on products such as child car seats, strollers and other baby gear. The wind-down of the home operations is expected to be complete by the end of the third quarter. Dorel says the benefits of these changes are expected to improve earnings by the fourth quarter of this year. This report by The Canadian Press was first published June 30, 2025. Companies in this story: (TSX:DII.B, TSX:DII.A) The Canadian Press
