May 1 Loblaw Cos Ltd, Canada's largest
food retailer, said it would soon announce more actions in the
wake of the collapse of a building in Bangladesh where some of
its "Joe Fresh" garments were manufactured.
More than 400 people died in the collapse of the illegally
constructed building in Dhaka, which housed a number of apparel
"I am deeply shaken by the event. Our hearts and prayers
continue to go out to those who were injured, to all the
families who have lost loved ones," Executive Chairman Galen
Weston said on a conference call.
"We have taken action to address the situation including the
announcement of a fund to provide relief to the victims of this
tragedy. There is more we will do and we will make that public
over the next few days."
He did not specify what further measures Loblaw would take.
Loblaw is majority-owned by George Weston Ltd, which
is controlled by the Weston family.
Loblaw, along with some other retailers supplied from the
collapsed building, has offered to compensate families of
victims of the tragedy.
"This is an evolving situation that we need to be very close
to," Loblaw President Vicente Trius said on the call.
The Joe Fresh clothing line, launched in 2006, represents a
key part of Loblaw's growth strategy.
Following a private emergency meeting of Canadian retailers,
the Retail Council of Canada said on Tuesday it would develop a
new set of trade guidelines.