A U.S. advisory firm is hoping that Canadian clothing retailer Le Château will rise from the ashes of insolvency.
Hilco Streambank says Le Château’s e-commerce platform, brand assets and some locations are available for purchase through the Companies’ Creditors Arrangement Act proceedings.
The expression of interest is due April 7 and the sale is subject to approval by the Quebec High Court.
The Montreal-based 60-year-old retailer filed for credit protection last October, affected by the impact of COVID-19 and a shift in consumer tastes.
Le Château is in the process of liquidating more than 100 stores across Canada. Potential buyers have the opportunity to choose retail locations to maintain a presence.
The retailer’s main customers are women aged 25 to 44. About 30% of the company’s clothing is made in its Montreal facility.
Le Château’s intellectual property includes 80 internationally registered trademarks, 60 years of goodwill, a database of nearly 500,000 customers, 18 domain names and social media accounts.
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