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Le Chateau going out of business due to COVID-19 impacts

Last Updated Oct 23, 2020 at 6:13 am PST

(Courtesy Twitter/LeChateauStyle)
Summary

Le Chateau is seeking court protection from creditors to allow it to close, liquidate its assets amid COVID-19

Montreal retailer will close 123 locations across Canada

Le Chateau will be cutting 1,400 employees who work in stores and at the company's head office

MONTREAL – It appears clothing retailer Le Chateau is going out of business due to the financial impacts of COVID-19.

The Montreal-based retailer will be closing 123 stores and cutting 1,400 employees who work in stores and at the company’s head office.

It has 500 head office employees and 900 retail store employees.

Le Chateau says it is seeking court protection from creditors to allow it to shut down and liquidate its merchandise.

The clothing retailer says it can no longer continue its operations, and that circumstances leave the company with no option other than to start the liquidation process.