Home / Knowledge / News / Retail / Canada's Le Chateau files for bankruptcy protection

Canada's Le Chateau files for bankruptcy protection

27
Oct '20
Pic: Le Chateau
Pic: Le Chateau
Canadian specialty retailer and manufacturer of exclusively designed apparel, footwear and accessories Le Château Inc. recently filed an application seeking protection of the court to proceed with the orderly liquidation of its assets and wind down its operations. The application was heard by a court in Quebec on October 23, the company said in a statement.

“Management and the Board of Directors of the Company have come to the very difficult decision that the Company can no longer continue its operations as a going concern after having used its best efforts over the preceding months, with the assistance of professional advisors, to refinance or sell the company to a third party that would continue operating the business,” the company said.

The COVID-19 pandemic and the second wave currently hitting Canada has affected consumer demand for Le Château’s holiday party and occasion wear, which represents the core of its offering, and has diminished the retailer’s ability to pursue its activities, it said.

Le Château, headquartered in Montréal, currently has 123 stores across Canada, in addition to its e-commerce website. Throughout the liquidation process, the company will remain fully operational, and physical stores are expected to remain open in conformity with provincial and regional guidelines.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Nov 2020

Japan aims to expand CPTPP trade pact

Japanese Prime Minister Yoshihide Suga recently said his country...

Pic: Shutterstock

Textiles | On 23rd Nov 2020

Bangladesh gets $256.5 mn from Green Climate Fund

Bangladesh recently received $256.5 million from the UN Green Climate ...

Pic: Mulberry

Apparel/Garments | On 23rd Nov 2020

Frasers raises Mulberry stake to 37%, considers offer

The Frasers Group, formerly called Sports Direct, recently announced...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Industry could be looking at 10%-15% job losses

Rahuul Jashnani, Jashn

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Headhonchos, Indian textile value chain

Headhonchos
Indian textile value chain

'One nation, one tax' is a great concept

Hardik Sanghvi,

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Manuele Baggini,

Manuele Baggini

Comec Italia Srl is a world leader in the production of printing machines. ...

Ravindra Jain, Ashish Baid,

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Mary-Cathryn Kolb, Brrr°

Mary-Cathryn Kolb
Brrr°

Atlanta-based private start-up Brrr° was founded in 2014 to develop...

Madison Maxey, Loomia

Madison Maxey
Loomia

Loomia designs and manufactures soft circuit systems that can be produced...

Razvan Popescu, Directa Plus SpA

Razvan Popescu
Directa Plus SpA

Directa Plus is one of the largest producers and suppliers worldwide of...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

Ruma Devi is a jet-setting promoter of artisans who has empowered...

Varsha Wadhwa, VW

Varsha Wadhwa
VW

Coming from a family that ran a business of jute and linen mills since...

Sneha Arora, Label Sneha Arora

Sneha Arora
Label Sneha Arora

Sneha Arora, an alumnus of National Institute of Fashion Technology,...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


November 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search