Rona Inc to buy its 20 franchise stores in effort to simplify

BOUCHERVILLE, Que. — Rona Inc. says it intends to buy the 20 franchise stores in its retail network — including 18 in Quebec.The company didn’t say how much it expects to pay and adds that the transaction will be subject to a review of the business at each of the franchised stores.In total, the Rona franchise stores have 2,600 employees and generate more than $500 million in annual retail sales.Rona Inc narrows loss as retail sales improve in first quarterRona Inc’s share buybacks point to dividend hikeThe Quebec-based company says buying the franchise locations will simplify its business. Rona says it will focus on sales at its independent dealers, who operate at 275 affiliated stores, and its own network of corporate stores.Rona says all 79 big-box stores across Canada will be wholly owned by the company. read more

SLFP demands due process when appointing new AG

He said that the President must nominate the new AG and the Constitutional Council must approve the nomination. The Sri Lanka Freedom Party (SLFP) today demanded that due process be followed when appointing a new Attorney General (AG).SLFP member and Government Minister Nimal Siripala de Silva said that the appointment of the new AG must take place soon. There have been reports the new AG will be appointed through a process which goes against the 19th Amendment to the constitution. It has been reported that the Government will overlook Solicitor General Suhada Gamlath who is next in line to be the AG. The AG post has been left vacant following the retirement of Attorney General Yuwanjana Wanasundara.Nimal Siripala de Silva said that the SLFP will oppose appointing an AG selected from outside of the Attorney General’s Department. He said that in the past there was opposition from the United National Party to appointing an AG from outside of the Attorney General’s Department so that position should remain even now. (Colombo Gazette) read more