MONTREAL — Le Chateau Inc. says it is seeking court protection from creditors to allow it to shut down and liquidate its assets.
Le Chateau’s application under the Companies’ Creditors Arrangement Act will be heard today by a Quebec court.
The clothing retailer says it can no longer continue its operations as a going concern.
It says circumstances leave the company with no option other than to start the liquidation process.
Le Chateau has 123 locations across Canada and an e-commerce platform servicing Canada and the U.S.
It has 500 head office employees and 900 retail store employees.
This report by The Canadian Press was first published Oct. 23, 2020.