MONTREAL -- Shareholders of Metro-Richelieu, a voluntary wholesaler here, have approved a bylaw change that will return some of the shares its customers must pledge as collateral security.
ed percentage of each deposit, to retail-shareholders -- 50% immediately and the balance a year later.
The move is designed to help retail customers upgrade and expand their stores, which include Metro supermarkets. The wholesaler reported that the bylaw change will free up about $60 million for store renovations.
