The Canadian operator is now focusing on expandingnew formats and reducing its debt level. Both objectives willbe aided by a new C$16.7 million ($11.79mm) equity infusion securedlast month through a private placement and from Toronto and Montrealinstitutional investors. Forzani intends to use approximatelyC$5 million of that total for permanent retirement of debt, whichstood at C$30,784,000 ($21.73mm) at fiscal year-end Feb. 1. Growthwill occur through at least 17 additional franchisees and renovations/newopenings of its larger-sized, mall-based Forzani's banner.In FY99, the company will convert 5-7 existing locations to the4,000-7,000-square-foot footwear and apparel format and open sixnew units for a total cost of ... Log in to view full article.