Women’s fashion retailer Reitmans is asking a Canadian court to grant it protection from its creditors while it restructures, the latest retail victim of the COVID-19 pandemic.
Women’s fashion retailer Reitmans will seek protection from its creditors in a Canadian court Tuesday, the latest retail chain to try to restructure after COVID-19 walloped its business.
The Montreal-based company said Tuesday that it is seeking protection under the Companies’ Creditors Arrangement Act, a federal law governing companies that can’t pay their bills.
“Filing for protection under the CCAA is truly the hardest decision we have had to make as an organization in our almost 100 years of history, but this pandemic has left us no choice,” chief executive officer Stephen Reitman said. “We believe that