Le Château is liquidating as it prepares to close after about 60 years of operation. Le Chateau entering creditor protection, closing all 123 stores in Canada. 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. The firm’s activities fall into several principal categories including acquisitions; disposition of underperforming stores; retail company or division wind downs; event sales to convert unwanted assets into working capital; interim company, division or store management teams; loss prevention; and, the monetization of furniture, fixtures and equipment. Join the conversation with thousands of savvy shoppers in Canada’s largest online forum. 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. Le Château to Close Stores Across Canada. WATCH: Clothing retailer Le Chateau, founded in Montreal in 1959, has filed for CCAA protection, and plans to close its doors. Stock up on the most popular trends and seasonal favorites all at incredible savings.”. PLUR-worthy fun fur? 30-60% Off Closing Sale at Le Chateau: 12/31/2021: You can save on items that go on sale and clearance seasonally. Approval was granted by the Québec Superior Court Commercial Division to an Amended and Restated Initial Order and a Liquidation Order pursuant to the Companies’ Creditors Arrangement Act Canada (CCAA). The Company will now transition to a complete going-out-of-business process led by the JV Group. 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. The JV Group has been managing the store closing process since November while the Company focused on winding down its operations and simultaneously pursuing the sale of its assets. UWOD2020 wrote: ↑ Mexx was good, le chateau is not $5 shipping for $100 purchase? Le Chateau has 129 stores across eight Canadian provinces and says that it does not expect to fully resume normal operations until 2022. Sign up today for your free Reader Account. Whether to fuel growth or facilitate strategic consolidation, Gordon Brothers partners with companies in the retail, commercial, and industrial sectors to put assets to their highest and best use. Montreal-based Le Château, a wardrobe staple (especially around prom season) for every cool … Sale and discounts exclusively online - LE CHÂTEAU. Le Château has 1,400 employees – 900 retail store employees and 500 employees at its head office in Montreal – and 123 stores across Canada, plus an … Aldo, Le Château, Mendocino, and Frank and Oak have all faced significant challenges. Shop at your convenience 24/7! OUTLET STORE - LE CHÂTEAU offers jackets, shoes, dresses, sweaters and cardigans at low prices. In a statement, Le Château said it was becoming clear that sales of Christmas and New Years’s outfits would be hard hit by the pandemic, leaving the company with no option other than to commence the liquidation process. Le Château is a Canadian specialty retailer and manufacturer of exclusively designed apparel, footwear and accessories for contemporary and style-conscious women and men, with an extensive network of 121 prime locations across Canada and an e-com platform servicing Canada and the U.S. The closure is due to the company, with 123 stores across Canada filing for bankruptcy protection. Closing Sale 20-40% Off at Le Chateau : Share with your friends to earn Royal Points. Le Château reported a $69.2-million net loss in the year ending on Jan. 25, 2020, compared with a $23.8-million net loss in the prior year. Gordon Brothers is headquartered in Boston, with 25 offices across five continents. Sign up for our newsletter to get exclusive content, contests, and perks direct to you. A spokesperson for the JV Group said, "Le Chateau has been considered the go-to store for the latest runway fashions and must-have looks for over six decades. © 2021 GlobeNewswire, Inc. All Rights Reserved. Registering at Le Chateau supplies guaranteed exclusive offers and great promotions. ... [Le Chateau] Closing / Boxing Day Sale - Up to 80% off Clearance / Outlet. Starting today, Le Château customers can take advantage of even deeper discounts up to 60% off the entire store: Shop the best selection in jewelry, men’s suits and ties all at 60% off, and all dresses, shoes and handbags, now offered at 50% off. you'll get the latest Le Chateau deals and promo codes delivered right to your inbox. Special New Year's Offers for Online Subscriptions! We are encouraging consumers to shop their favorite styles early for the best selections at even greater discounts. Boston, MA, Dec. 26, 2020 (GLOBE NEWSWIRE) -- Gordon Brothers (through its Canadian division, Gordon Brothers Canada ULC) and Hilco Global (through its Canadian division, Merchant Retail Solutions, ULC) (collectively, the "JV Group") announced the start of going-out-of-business sales at all Le Château Inc. stores (NEX: CTU.H) (the "Company” or "Le Château") effective today, December 26, 2020. Customers can shop the sale 24/7 at lechateau.com. I used to work at Le Chateau Fairview Mall while in University. An end to an era! New arrivals in seasonal merchandise are also on sale just in time for the holiday season. Last month, Le Château announced its intention to liquidate its assets and end the operation of its 123 stores. ... [Le Chateau] Closing / Boxing Day Sale - Up to 80% off Clearance / Outlet. The clothing brand became a mall staple and a hit with young shoppers in the 1980s and '90s. The retail industry was one of the hardest hit during the pandemic, with major brands like J.Crew filing for bankruptcy and Victoria's Secret closing its stores. Canadian speciality retailer Le Château has received approval to go ahead with the sale of its assets and close operations. Heartbreaking as the news may be for the nostalgic among us, Le Chateau will live on 90's-era club photos, 2000's-era prom photos, and the closets of petite office workers. Customers will be able to take advantage of the remaining products both in-store and online. [Lenovo Canada] ThinkBook 13s Intel "evo" laptop 16:10 2.5K touchscreen, I7-1165G7,16G 4266MHz DDR4X , 512GB SSD $1,039.05 +29 53 comments [Home Depot] Milwaukee M12 FUEL 12V Li-Ion Brushless Cordless 1/4-inch Hex Impact Driver Kit with (2) … Retailer Le Château is seeking court protection from its creditors while it winds down its operations and liquidates its assets. During this time, the company will remain operational both online and in person. About Hilco Global - Merchant Retail Solutions, ULC. The news comes three months after the Montreal-based chain had expressed doubt about their future during an earnings call and noted that they planned to seek new sources of financing. Limited Period offer provides flat certain percent or dollar off on Le Chateau items. One analyst has suggested that more than 2,500 big-brand store closures could be announced in Canada this year. And earlier this year, plus-size clothing retailer Addition Elle closed all 74 of its locations . All Women - Clearance blow out deals promotion is valid for a limited time only. Keep an eye out for the LE CHÂTEAU's sale section plus weekly/monthly events that encapsulate all sale information on women, men, shoe and accessory sales Limited Time Deals, outlet and clearance sale. The Canadian Press Images Shoppers outside Le Chateau at the Eaton Centre on Christmas Eve, Toronto, Ont., Dec. 24, 2015. Starting on November 3, customers can take up to 40% off a pair of shoes, boots, and accessories as well as jewellery, dresses, and handbags at 30% off. No More Savings FOMO. “We encourage consumers to shop early to take advantage of the best selection of products and great savings available throughout the stores and website. Le Château is going out of business after filing for bankruptcy. Le Château will be closing all stores in Canada after 61 years in business, as the company announced that it had filed for creditor protection on Friday. Lead photo by Le Chateau Le Château is in the process of closing all their stores across Canada and have discounts up to 40% off starting this week. Le Château: After 60 years in operation, the Montreal-based clothing retailer announced on Oct. 23 that it plans to close 123 stores and liquidate all its assets. Your favourite '90s clothing store is going out of business. Yes, yes, YES. MONTREAL — 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. Plus, remember to check for Le Chateau deals and promo codes from Coupons.com. The Montreal-based company said Friday that it has spent much of the COVID-19 pandemic trying to refinance or sell the … The JV Group has been managing the store closing process since November while the Company focused on winding down its operations and simultaneously pursuing the sale of its assets. Women - Le Chateau offers European style for North American women. Can they bankrupt already I don't know how they managed to [Le Chateau] Closing / Boxing Day Sale - Up to 80% off Clearance / Outlet - Page 2 - RedFlagDeals.com Forums Since 1903, Gordon Brothers (www.gordonbrothers.com) has helped lenders, operating executives, advisors, and investors move forward through change. I liked Le Chateau for a men's stuff for a while, but found the quality to be pretty poor and it was a big turnoff to pay $80+ for shirts that came in only S, M, L sizing (as opposed to collar/sleeve sizing as per EVERY other quality shirt retailer). Hilco Global, is one of the world’s leading authorities on maximizing the value of business assets by delivering valuation, monetization and advisory solutions. Customers will find the same merchandise at the same discounts on lechateau.com. Le Château is a Canadian specialty retailer and manufacturer of exclusively designed apparel, footwear and accessories for contemporary and … Hurry up to avail an up to 70% OFF discount on Le Chateau products. Fashion Giant Knocked Down by COVID-19 THUNDER BAY – In what perhaps is just a sign of the times, Le Chateau in Intercity Shopping Centre will be closing. Online Exclusive limited time only deals! LE CHÂTEAU is a leading Canadian specialty retailer offering contemporary fashion apparel, footwear and accessories to style-conscious women and men. Please reference the open store list below prior to shopping. “During the liquidation process, its 900 dedicated employees will continue to provide all customers with the same great experience, while offering even better values on their favourite products.”. Check the sale rack. Dresses, tops and sweaters, jackets and coats, jackets and vests, trousers and skirts. The firm brings a powerful combination of expertise and capital to clients, developing customized solutions on an integrated or standalone basis across four service areas: valuations, dispositions, operations, and investments. Stay in the sale loop by subscribing to our mailing list and by heading to our LE CHÂTEAU website daily! Starting on November 3 , customers can take up to 40% off a pair of shoes, boots, and accessories as well as jewellery, dresses, and handbags at 30% off. Le Chateau is closing. There was this Le Chateau outlet at Woodside Square in Scarborough. I … Shares in Le Chateau fell sharply in … The company owns 123 … Le Château is in the process of closing all their stores across Canada and have discounts up to 40% off starting this week. Headquartered in Montréal since its founding in 1959, LE CHÂTEAU has […] Hilco Global operates twenty specialized business units around the world. “Management takes this opportunity to thank the millions of Canadians who have shopped at Le Château over the past 60 years and invites them to enjoy the incredible savings and styles available in this closing sale,” reads a statement by the group. Gordon Brothers conducts more than $70 billion worth of dispositions and appraisals annually. Author of the article: Postmedia News. *Effective December 25 and December 26 respectively, Quebec and Ontario Provinces have been ordered to shutdown all non-essential businesses in order to curb the surge in Covid-19 cases. Shop gifts that are sure to delight everyone on your shopping list at incredible savings,” said a spokesperson for the JV Group. Get the Le Chateau look and shop for the latest collections in dresses, tops, blazers, pants, jackets, jumpsuits and essentials in variety of colours and patterns. Discounts of 40%-60% start today in all stores and lechateau.com. Sale! Merchant Retail Solutions, ULC is a Canadian division of Hilco Global (www.hilcoglobal.com) which provides a wide range of analytical, advisory, asset monetization, and capital investment services to help define and execute a retailer’s strategic initiatives. The offer is expiring soon. Daily Hive is a Canadian-born online news source, established in 2008, that creates compelling, hyperlocal content. NEW. Join the conversation with thousands of savvy shoppers in Canada’s largest online forum. The retailer filed an application seeking the court’s protection from its creditors, which had been set to go before the Superior Court of Quebec on October 23. Stores will re-open as provincial guidelines permit. A full listing of all open* store locations can be found below.
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