Clothing retailer Le Château (TSXV:CTU) to wind down operations

1 min read | October 24, 2020 04:58 AM EDT | By Team Kalkine Media

 

  • The Montreal-based retailer has sought protection from creditors under Companies' Creditors Arrangement Act (CCAA) on Friday to liquidate of its assets and shut down the business.
  • If approved, Le Château will obtain interim financing from Wells Fargo Capital Finance Corporation Canada to fund post-filing working capital requirements.
  • The retail industry is among the hardest-hit sectors due to the ongoing COVID-19 pandemic forcing many companies to go under.

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