Publishing date: Oct 23, 2020 • October 23, 2020 • 1 minute read. Reply to Thread Reply. 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. This resulted in attempts to create a more manageable bricks-and-mortar network: after hitting a peak of 243 stores in 2012, Le Chateau has since moved to “right-size” its retail footprint, closing 122 over the last eight years to focus on top-performing stores and key markets. The retailer currently has 123 locations across Canada. Customers will be able to take advantage of the remaining products both in-store and online. Le Chateau has 129 stores across eight Canadian provinces and says that it does not expect to fully resume normal operations until 2022. We didn't recognize that password reset code. Twitter. Le Chateau: On Monday evening, Montreal-based Le Chateau issued a press release with its earning statement noting that the company may not survive another 12 months without outside investment. Sign up for our newsletter to get exclusive content, contests, and perks direct to you. Get breaking news, weather and traffic stories in your inbox 7 days a week, 24 hours a day. 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 has 1,400 employees across the country, including 500 staff at its head office. Brad Perry. October 26, 2020 . Le Château to Close Stores Across Canada. It has 500 head office employees and 900 retail store employees. Modification au RCS de Béziers Le Chateau Closing Its Doors, Files For Creditor Protection. MONTREAL – It appears clothing retailer Le Chateau is going out of business due to the financial impacts of COVID-19. It's the last dance for this Montreal-based retailer. Le Chateau says it will go out of business, closing 123 stores, cutting 1,400 employees (900 in stores, 500 at head office in Montreal) and liquidating merchandise. november 2nd, 2020 le chateau obtains amended and restated initial order under the ccaa. bargainmoose / CC. Daily updates for Weather, Traffic, News, and Entertainment. Shop Chateau Personalised Gifts with World Wide Delivery Exclusive Homemade … Last Updated: Jan 19th, 2021 3:55 am; Category: Apparel; Tags: le chateau; closing; boxing day sale; up to; 80 off; clearance; outlet; SCORE +26? {* createAccountButton *}, You may have created a profile with another. 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. Le Chateau announced Friday it is seeking to shut down all 123 locations across Canada and liquidate its assets. LE CHÂTEAU is a leading Canadian specialty retailer offering contemporary fashion apparel, footwear and accessories to style-conscious women and men. ReddIt. Le Chateau has 129 stores across eight Canadian provinces and says that it does not expect to fully resume normal operations until 2022. The company has 124 stores in Canada. Photographer Juergen Teller captures the closing scene of the CHANEL ‘Le Château des Dames’ 2020/21 Métiers d’art show with Virginie Viard and her cast of models outside the Château de Chenonceau. Le Chateau is a sophisticated New York celebratory destination, elegantly appointed for weddings, bar & bat mitzvahs, corporate galas, and more. Discounts of 20%-40% start today in all 121 stores and lechateau.com . Last month, Le Château announced its intention to liquidate its assets and end the operation of its 123 stores. Please contact us. Call: (914) 763-1410 | Book An Appointment About Us Canadian fashion staple Le Chateau is apparently not in a great place financially and in danger of shutting down all stores and ... with major brands like J.Crew filing for bankruptcy and Victoria's Secret closing its stores. Fri., Oct. 23, 2020 timer 2 min. By Josh Kolm. {* forgotPassword_sendButton *}, {* backButton *} Tim Ford - October 23, 2020. LE CHÂTEAU. Select your region to begin shopping. Photo: Getty Images. Shop gifts that are sure to delight everyone on your shopping list at incredible savings,” said a spokesperson for the JV Group. Le Château is liquidating as it prepares to close after about 60 years of operation. By checking this box, I agree to the terms of service and privacy policy of Rogers Media. Bower Place Shopping Centre has a Le Chateau store. Château d'Usson is listed as a monument historique by the French Ministry of Culture. Le Château — The Cool-Girl Clothing Store Of The ’90s — Is Closing. Le Château closing all stores October 26, 2020 Le Château goes bust, becoming latest retail victim of pandemic struggles ICONIC CANADIAN FASHION retailer Le Château is seeking court protection from its creditors while it winds down its operations and liquidates its assets. 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 ") have been retained to conduct store closing sales for Le Château Inc. (NEX: CTU.H) (the " Company ” or " Le Château ") effective today, November 2, 2020. 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 clothing brand became a mall staple and a hit with young shoppers in the 1980s and '90s. Copy Link; Email; Facebook; Twitter; Reddit; Pinterest; LinkedIn ; Tumblr; Article content. We've sent an email with instructions to create a new password. Le Château is a Canadian specialty retailer and manufacturer of exclusively designed apparel, footwear and accessories for … A Le Chateau store. Oct 23, 2020 1:51 PM. People shop at CF Toronto Eaton Centre in Toronto, Ont., on Dec. 24, 2019, on the afternoon of Christmas Eve. The clothing retailer says it can no longer continue its operations, and that circumstances leave the company with no option other than to start the liquidation process. - Great find Caroline Lippert ! Canadian Clothing Store LE CHÂTEAU Announces Closing ALL Stores October 24, 2020 admin 84 Views. Please confirm the information below before signing up. Montreal-based Le Chateau plans to close 14 stores this year and even more in the years ahead as the fashion chain "recalibrates" its brand amid a changing retail environment. Your existing password has not been changed. 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 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. Le Chateau closing. Oct 25, 2020 11:32 AM (Photo courtesy Avalon Mall) A popular national clothing retailer has become the latest victim of COVID-19. “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.”. The Montreal-based retailer will be closing 123 stores and cutting 1,400 employees who work in stores and at the company’s head office. Oct 23, 2020 • October 23, 2020 • 1 minute read. A Le Chateau store. Facebook. Enter your email address to get a new one. Clothing retailer Le Chateau announced on Oct. 23, 2020 it was filing for creditor protection, causing many stores to close (CREDIT: Richard Dettman, NEWS 1130) MONTREAL — Le Chateau Inc. says it is seeking court protection from creditors to allow it to shut down and liquidate its assets. ICONIC CANADIAN FASHION retailer Le Château is seeking court protection from its creditors while it winds down its operations and liquidates its assets. ... may 24th, 2007 le chÂteau announces closing of $18.9 million bought deal secondary offering by principal shareholder. 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 Oct 23, 2020 10:47 AM. Daily Hive is a Canadian-born online news source, established in 2008, that creates compelling, hyperlocal content. LE CHÂTEAU is a leading Canadian specialty retailer offering contemporary fashion apparel, footwear and accessories to style-conscious women and men. See more at chanel.com What led to Le Chateau closing its doors? Le Château manufactured about 35% of the merchandise itself in Canadian factories with the remainder imported. Le Chateau says overall sales came in at $56 million for the quarter ended Jan. 27, while comparable store sales were down 1.7 per cent for the quarter from a year ago. Le Chateau says it will go out of business, closing 123 stores, cutting 1,400 employees (900 in stores, 500 at head office in Montreal) and liquidating merchandise. About Le Château. Once beloved by young, fashion-conscious Canadians, the retailer had struggled to make its 100-plus stores pay off. Call: (914) 763-1410 | Book An Appointment About Us All rights reserved. WATCH: Clothing retailer Le Chateau, founded in Montreal in 1959, has filed for CCAA protection, and plans to close its doors. MONTRÉAL, Jan. 11, 2021 /CNW Telbec/ - Le Château Inc. (NEX: CTU.H) ("Le Château" or the "Company") announced today that the Company has received a failure-to … Clothing retailer Le Chateau is filing for creditor protection and plans to close its doors. read. BC Elections 2020; Le Château hangs up its hat, closing all 123 stores across Canada By. read. Share Share this Story: Le Chateau closing. This first castle, built in the middle of the sixteenth century, threatened to fall into ruins. by The Canadian Press and Richard Dettman, Le Chateau is seeking court protection from creditors to allow it to close, liquidate its assets amid COVID-19, Montreal retailer will close 123 locations across Canada, Le Chateau will be cutting 1,400 employees who work in stores and at the company's head office. Refinery29 . Montreal-based Le Chateau plans to close 14 stores this year and even more in the years ahead as the fashion chain "recalibrates" its brand amid a changing retail environment. A spokesperson for the JV Group said, "Le Chateau … It's the latest of many retailers affected by the coronavirus pandemic. Last Updated Oct 23, 2020 at 1:55 pm EST. Send me alerts, event notifications and special deals or information from our carefully screened partners that may be of interest to me. November 02, 2020 15:57 ET | … 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. Clothing retailer Le Chateau announced on Oct. 23, 2020 it was filing for creditor protection, causing many stores to close (CREDIT: Richard Dettman, NEWS 1130) MONTREAL — Le Chateau Inc. says it is seeking court protection from creditors to allow it to shut down and liquidate its assets. 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. Photographer Juergen Teller captures the closing scene of the CHANEL ‘Le Château des Dames’ 2020/21 Métiers d’art show with Virginie Viard and models, outside the Château … Le Château is going out of business after filing for bankruptcy. An end to an era! “Le Chateau shaped a lot of who I am today,” Lohr says of the more than a decade she spent working for the company while in her 20s. Earlier on HuffPost Canada: Welcome to The Chateau, Home of Dick & Angel Strawbridge & Escape to The Chateau! 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. New arrivals in seasonal merchandise are also on sale just in time for the holiday season. Email Print Friendly Share. Montreal-based fashion retailer Le Chateau is shuttering its stores, it was announced on Friday. After filing for creditor protection on Friday, Le Chateau revealed itself as the latest example of a story that has become common among Canadian fashion retailers: the new challenges of the pandemic … ... Oct 23, 2020 • October 23, 2020 • 2 minute read. In the summer, the company detailed fourth-quarter – for the year ended Jan. 25, 2020 - results that included a sales drop of 6.5% year-over-year and a net loss of more than $51 million. pic.twitter.com/cI0dm0cwoH — Richard Dettman (@rwdettman) October 23, 2020 october 26th, 2020 le chateau announces transfer of listing to nex. As of July 2020, Le Chateau says it had about $118 million in assets and $201 million worth of liabilities. There’s so much to unpack about why Le Château figured so heavily in our lives. “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. — Smash (@macsmashley) October 23, 2020. Oct 25, 2020 11:32 AM (Photo courtesy Avalon Mall) A popular national clothing retailer has become the latest victim of COVID-19. Fri., Oct. 23, 2020 timer 3 min. Le Chateau's fourth-quarter results included a sales decline of 6.5 per cent year-over-year, to $175.9 million, despite a significant increase in online sales. Here is a look at some of the major retail closures announced in Canada in 2020, both before and during the pandemic. Rogers Media uses cookies for personalization, to customize its online advertisements, and for other purposes. Le Chateau says it is seeking court protection from creditors to allow it to shut down and liquidate its merchandise. Square One. UWOD2020 wrote: ↑ Mexx was good, le chateau is not $5 shipping for $100 purchase? {* traditionalSignIn_signInButton *}, {* backButton *} An error has occurred while trying to update your details. Over the three-month period up until July 25, Le Château only sold $14.7 million in its stores and online — down almost $50 million from the same time last year. “ 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. Canada Your favourite '90s clothing store is going out of business. Author of the article: Brian Kelly. The retail chain has two stores in Victoria, one at the Bay Centre and one at Mayfair Shopping Centre. Le Chateau employs 1,400, with 900 of those staff at its retail locations. Customers will find the same merchandise at the same discounts on lechateau.com.Shop at your convenience 24/7! Stores closing in 2020: 123. Sélectionnez votre région pour commencer à magasiner. I understand that I can withdraw my consent at any time. Le Chateau (POSTMEDIA NETWORK FILE PHOTO) Article Sidebar. Le Château Stores Are Closing! Le Chateau Inc. says its founder and his wife have left the insolvent company as it … Et a désigné en qualité d'administrateur : M. zagnoune kamel, demeurant 69 impasse du chateau d usson, 34500 Béziers. [Le Chateau] Closing / Boxing Day Sale - Up to 80% off Clearance / Outlet. Search this thread. TORONTO - Canadians who flocked to Le Chateau Inc. stores for the last 60 years will need to … 2440 Ash St. Vancouver, BC V5Z 4J6 © 1996-2021 Rogers Media. La dernière modification de cette page a été faite le 13 décembre 2020 à 10:12. Clothing retailer Le Chateau says it is unsure if it will be able to remain in business for another year. Saint John, NB, Canada / Country 94. Canadian Clothing Store LE CHÂTEAU Announces Closing ALL Stores October 24, 2020 admin 84 Views. Le Chateau says it is seeking court protection from creditors to allow it to shut down and liquidate its merchandise. THE CANADIAN PRESS IMAGES/Rachel Verbin . 31 5. Reason Not a good price Bad product/service Poor merchant reputation Unable to get the deal Other. “We encourage consumers to shop early to take advantage of the best selection of products and great savings available throughout the stores and website. Your favourite '90s clothing store is going out of business. 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 Inc. is a fashion company, currently under liquidation, that was founded in 1959 in Montreal, Quebec, Canada and designed, imported and retailed a wide range of women's and men's apparel, accessories and footwear. The closure of Le Château’s 123 stores across Canada, along with the elimination of its online presence, is expected to cost about 1400 jobs, including 500 office positions and 900 retail jobs. JOIN THE CONVERSATION . You have activated your account, please feel free to browse our exclusive contests, videos and content. Be the first to know! 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. pic.twitter.com/cI0dm0cwoH, — Richard Dettman (@rwdettman) October 23, 2020. Enter your email below and we'll send you another email. ... has diminished Le Château’s ability to pursue its activities,” the company said. {* legalAcceptanceAcceptButton *}, {* backButton *} During this time, the company will remain operational both online and in person. {* backButton *} It's the latest of many retailers affected by the coronavirus pandemic. The stores will stay open during the liquidation process. Sorry we could not verify that email address. Send me promotions, surveys and info from NEWS 1130 and other Rogers brands. Email (Le Chateau) Le Château announced on Friday that it will be filing for creditor protection as it liquidates all assets and winds down its operations. MY CLOSING SASU au capital de 5.000 € Siège social : 19 RUE MARTIN LUTHER KING, 34500 Béziers 823 710 942 RCS de Béziers L'assemblée générale du 02/01/2020 a pris acte de la fin du mandat d'administrateur de : Mme zagnoune marine. The company owns 123 … The clothing brand became a mall staple and a hit with young shoppers in the 1980s and '90s. Le Chateau says it will go out of business, closing 123 stores, cutting 1,400 employees (900 in stores, 500 at head office in Montreal) and liquidating merchandise. The Canadian Press Images Shoppers outside Le Chateau at the Eaton Centre on Christmas Eve, Toronto, Ont., Dec. 24, 2015. Le Chateau employs 1,400, with 900 of those staff at its retail locations. JOIN THE CONVERSATION . Lead photo by . BC Elections 2020; Le Château hangs up its hat, closing all 123 stores across Canada By. Share on Facebook; Share on Twitter; Copy Link; Shoppers are likely to lose another option for clothes in Red Deer. Le Chateau is a sophisticated New York celebratory destination, elegantly appointed for weddings, bar & bat mitzvahs, corporate galas, and more. Le Château is in the process of closing all their stores across Canada and have discounts up to 40% off starting this week. On October 23, 2020, it was announced that Le Château would be filing for CCAA bankruptcy protection, liquidating its inventory and closing all 123 stores. Given the year-over-year losses and overall financial position, securing investment may be challenging and by early 2021, Le Chateau may become part of … Le Château is liquidating as it prepares to close after about 60 years of operation. In 2015, the company generated sales of about CA$237 million. 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