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Le Chateau files for bankruptcy, plans to close its doors

THE CANADIAN PRESS AND NEWS STAFF | posted Friday, Oct 23rd, 2020

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 Friday 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.

The move will affect 500 head office employees and 900 retail store employees at its 123 locations across Canada.

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