"Regrettably, these circumstances leave the company with no option other than to commence the liquidation process.". After valiantly fighting the good fight, it’s the end of an era for Le Château. Some of HuffPost Canada’s staff shopped for their formalwear there, including associate editor Mel Woods, senior video producer Shetu Modi, and lifestyle editor Maija Kappler. Reitmans closing Thyme Maternity, Addition Elle brands amid restructuring. Reitmans Canada Ltd., Aldo Group Inc., DavidsTea Inc., Mountain Equipment Co-operative, Moores the Suit People Corp. and Laura's Shoppe Inc. are among the dozens of retailers that have all filed for creditor protection. Le Château plans to close its doors, files for CCAA protection, Coronavirus: Pandemic claims another Quebec business. The company owns 123 … Le Chateau expected Gordon Brothers Canada ULC and Merchant Retail Solutions ULC to be appointed as consultants to implement the liquidation and PricewaterhouseCooper Inc. to become its monitor in CCAA proceedings. #lechateau pic.twitter.com/jyHxDFlo8z. Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday. land dispute, Nigeria says 51 civilians, 18 security forces dead in unrest, Moose disrupts game of soccer, turns out it just wants to play, Woman orders ketchup packets from McDonald's, Was there a clear winner? This advertisement has not loaded yet, but your article continues below. Comments may take up to an hour for moderation before appearing on the site. https://t.co/2ylklUrklW. This report by The Canadian Press was first published Oct. 23, 2020. News broke Friday that the Quebec clothing chain planned to liquidate and shut down its remaining 123 stores, finally putting an end to the once-popular retailer dogged by dwindling sales. "We regret the impact this will have on our people and can assure you that we explored all options available to us prior to taking this difficult decision," the company said. You can always live forever here on Twitter. A welcome email is on its way. WATCH: Clothing retailer Le Chateau, founded in Montreal in 1959, has filed for CCAA protection, and plans to close its doors. expressly prohibited without the prior written consent of Toronto Visit our Community Guidelines for more information and details on how to adjust your email settings. https://t.co/MfJPYFXTwA, RIP to my older siblings' silk polka-dotted shirts from 1990 https://t.co/SldSuzT8Ph via @globalnews. Segal forked over millions of dollars - multiple times - to help the company fund extensive renovations and compete with its new rivals, but it struggled to regain the popularity it once had. That place was a gem. https://t.co/ajQfxX7FQc pic.twitter.com/l5Y0abkcHD, So long, Le Château. Let’s talk a walk down memory lane: Looking for semi-formal clothing that would cost an after-school job’s paycheck or a month’s allowance? The Montreal-based company said Friday that it has spent much of the COVID-19 pandemic trying to refinance or sell the business to a third party that would keep it in operation, but was unsuccessful. The company’s application comes after several other Canadian retailers have shuttered or downsized operations in the wake of the pandemic. Panel weighs in, Power Play: Final U.S. presidential debate results, Watch the full debate between Trump and Biden, Le Chateau files for court protection, plans to shut down, Winter is Coming, on Monday, according to snow forecast for Montreal, $70 million waiting to be claimed from winning Oct. 9 lottery ticket. Haley Sheh, an international student at the University of Toronto, shared her feelings about the Canadian retailer closing its doors. It has 500 head office employees and 900 retail store employees. Share some of your Le Chateau memories with us below. I can picture @Kiesza Hideaway song being played on repeat. I will miss your poorly made blouses, your pinching shoes and pants that never properly fit, Le Chateau is closing down! Le Chateau intends to remain fully operational as it liquidates its 123 stores, but the eventual closures will mean the end of about 1,400 jobs -- 500 at its head office and 900 at stores. I will always have fond memories of Le Chateau, and our crazy holiday parties. After 60 years in operation, Le Chateau Inc. is seeking court protection from creditors to allow it to liquidate its assets and close its stores. Check the sale rack. All of its 123 stores in Canada will be closed. I can't be held responsible for how much debt I accrue shopping the final day sales. Managing Editor, Lifestyle and Perspectives, HuffPost Canada. We encountered an issue signing you up. “We regret the impact this will have on our people and can assure you that we explored all options available to us prior to taking this difficult decision,” the company said. Etmanski, now a mother of two, said she isn’t surprised the retailer is closing its doors given the current climate of online sales, but is still sad, considering how long the stores has been around and how many people’s significant events involved purchases there. The company owns 123 stores and employs more than 1,400 people. Clothing retailer Le Chateau files for CCAA protection, plans to close its doors The Canadian Press Published Friday, October 23, 2020 9:13AM EDT Le Chateau employs 1,400, with 900 of those staff at its retail locations. I remember strolling into 6th grade in an outfit I got from Le Chateau Junior Girl and feeling like a baddie. Growing up in small-town Chatham, Ontario, our downtown record store and #LeChateau in the mall were my only connections to the alt music and black-heavy wardrobe scene outside of trips to Toronto.Le sigh. The Montreal-based company has 123 locations across Canada. What do you think of the retailer closing its doors? Its application for protection from creditors under the Companies' Creditors Arrangement Act (CCAA) was due to be heard by a Quebec court on Friday. 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Le Chateau intends to remain fully operational as it liquidates its 123 stores, but the eventual closures will mean the end of about 1,400 jobs -- 500 at its head office and 900 at stores. No? Kirsten Etmanski spoke to The Star about how much the retailer meant to her, reminiscing about a dress she re-wore in 1988 for her Grade 10 spring formal with her high school sweetheart, now husband of 24 years. Star Newspapers Limited and/or its licensors. Well known Canadian retailer Le Château is closing its 123 stores across Canada after 60 years in business, saying it cannot refinance or sell the business to a third-party during the pandemic. Le Chateau was started in the late 1950s by Herschel Segal, who went on to co-found DavidsTea Inc. Le Château was where it was at. We ask you to keep your comments relevant and respectful. “I think it was a brand that resonated very well with Generation X, and maybe baby boomers, but it probably struggled a bit with millennial shoppers and Gen Z,” he said. Well known Canadian retailer Le Château is closing its 123 stores across Canada after 60 years in business, saying it cannot refinance or sell the business to a third-party during the pandemic. My prom dress was from the Le Chateau warehouse for twenty bucks. I remember travelling the 2 hours to Halifax with a friend to buy my first ‘grunge’ skirt at Le Chateau (it paired well with my combat boots) https://t.co/vkWioYu3Nm, My whole 20s. The company's CCAA application comes after several other Canadian retailers have shuttered or downsized operations in the wake of the pandemic. This copy is for your personal non-commercial use only. #lechateau pic.twitter.com/Z0FmWezUqE, Le Chateau is closing. “We regret the impact this will have on our people and can assure you that we explored all options available to us prior to taking this difficult decision,” the company said. I worked there in 2006 and just found this scarf from back then a couple weeks ago. 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Consumers who wish to can have one last sentimental shopping spree before the store closes its doors forever. “We regret the impact this will have on our people and can assure you that we explored all options available to us prior to taking this difficult decision,” the company said. pic.twitter.com/ieMEiYZTp0, RIP TO LE CHATEAU, AN ICON. 365 Bloor Street East, Toronto, Ontario, M4W 3L4. A mainstay in malls and shopping districts across Canada for more than 60 years, the Montreal-based company is seeking court protection from creditors to allow it to shut down and liquidate its merchandise at all locations […] If Le Chateau's CCAA application is granted, the company will obtain interim financing from Wells Fargo Capital Finance Corp. Canada to help it fund post-filing working capital requirements. Le Chateau was started in the late 1950s by Herschel Segal, who went on to co-found DavidsTea Inc. Want to discuss? Were some of our choices questionable? I worked there in 2006 and just … Sign up to receive daily headline news from the Toronto SUN, a division of Postmedia Network Inc. PLUR-worthy fun fur? All PricewaterhouseCoopers will be company monitor while Le Chateau is in creditor protection. The company’s application for protection from creditors under the Companies’ Creditors Arrangement Act (CCAA) will be heard by a Quebec court on Friday. As it officially opens, province tallies it up, 'SNL' give 'Hot Takes' on Canadian and Quebec culture in 'Bonjour-Hi!' Who came out on top in final U.S. presidential debate? #LeChateau is closing and I'm gutted; devastated; inconsolable. Le Chateau entering creditor protection, closing all 123 stores in Canada, tap here to see other videos from our team. Le Chateau has 123 locations across Canada and an e-commerce platform servicing Canada and the U.S. All rights reserved. No problem. “There is going to a huge parade of CCAA folks.”. That place was a gem. "The holiday won't generate as much cash as they wanted for all the obvious reasons," he said. Its stores were closed for weeks earlier this year because of the pandemic. (The sun was definitely in my eyes, and tragically I kept up the platinum blonde another few years.) She bought a purple spaghetti-strapped dress, and fell in love with it, wearing it over and over; it served as a reminder of her journey to Canada and her time in university. pic.twitter.com/bPNVFxVny9. . Unauthorized distribution, transmission or republication strictly prohibited. I bought my prom dress there for $70 as a (questionable) attempt at rebelling against my school's prom culture, where everyone wore $500 ball gowns.

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