Le Château To Close All Stores
Friday October 23rd, 2020, 9:45am
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Le Château announced Friday they plan to proceed with the orderly liquidation of their assets and a wind down of their operations.
In a press release the management and the Board of Directors of the company say they have come to the very difficult decision that the company can no longer continue its operations as a going concern.
“The retail industry faced numerous challenges due to the ongoing COVID-19 pandemic and the second wave currently hitting our communities across Canada. Its already evident impact on consumer demand for Le Château’s holiday party and occasion wear, which represents the core of our offering, has diminished Le Château’s ability to pursue its activities,” the release said.
They currently have 123 stores in Canada including one at Devonshire Mall, with 1,400 total Canadian employees, including 500 at Head Office and 900 retail store employees.
