×

TYPE IN YOUR SEARCH AND PRESS ENTER

Loading...
Top News

Le Château Is Closing Its Doors After Over 60 Years In Canada

Gabriel Nunes Gabriel Nunes

Le Château Is Closing Its Doors After Over 60 Years In Canada

Another former Canadian retail giant bites the dust.

Looks like there will be one less familiar store in our malls this holiday season. Le Château announced today it has filed for bankruptcy and plans to close all 123 stores in Canada and liquidate its assets after receiving court protection from creditors.

First founded in 1959, the Montreal-based fashion company cites financial challenges due to COVID-19 as the primary reason for the closure. The company joins a list of other Canadian retailers that have filed for creditor protection this year, including Aldo, David’s Tea, and, most recently, Swim Co. 

This announcement will soon leave Le Château’s 500 head office employees and 900 retail store employees out of a job. However, the company’s stores will remain open during the liquidation process, so, on the bright side, we can keep an eye out for the closing sales.

[Featured Image Source: Facebook / Le Chateau]