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West Elm Advises of Intent to Terminate Partnership with Inscape

/EIN News/ -- HOLLAND LANDING, Ontario, March 01, 2018 (GLOBE NEWSWIRE) -- Inscape Corporation (the “Company”) (TSX:INQ) has been advised orally today that West Elm, a brand of Williams-Sonoma, Inc., intends to terminate their partnership effective June 29, 2018. The two companies entered into an agreement in 2014 to create the West Elm Workspace with Inscape collection. The Company has not received a formal notice of termination.

“We expect we will work with West Elm to develop a transition plan over the next 120 days that minimizes impact on our dealers, partners and entire team,” said Brian Mirsky, CEO. “Our company has an impressive 130-year history in the contract furniture business and we are confident in our ability to continue to thrive in this continuously evolving industry.”

Certain statements in this document, contain forward-looking statements which can be identified by the use of forward-looking terminology such as “believes”, “expects”, “may”, “desires”, “will”, “should”, “projects”, “estimates”, “contemplates”, “anticipates”, “intends”, or any negative such as “does not believe” or other variations thereof or comparable terminology. No assurance can be given that potential future results or circumstances described in the forward-looking statements will be achieved or will occur. By their nature, these forward-looking statements, necessarily involve risks and uncertainties, including those discussed herein, that could cause actual results to significantly differ from those contemplated by these forward looking statements. Such statements reflect the view of the Company with respect to future events, and are based on information currently available to the Company and on assumptions, which it considers reasonable. Management cautions readers that the assumptions relative to the future events, several of which are beyond Management’s control, could prove to be incorrect, given that they are subject to certain risk and uncertainties, and that actual results may differ materially from those projected. Factors which could cause results or events to differ from current expectations include, among other things: any future decisions or actions made by West Elm or the Company with respect to the partnership. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward looking information.

Contact:
Aziz Hirji
Chief Financial Officer
ahirji@inscapesolutions.com
905 836 7676

 

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Distribution channels: Furniture & Woodworking Industry