Le Château Inc. announced Friday that it is seeking court protection from creditors in order to proceed with the orderly liquidation of its assets and wind down its operations.
The Montreal-based fashion chain has 123 stores across Canada, in addition to its e-commerce website. It has a total of 1,400 employees, with 500 at its head office, and 900 working retail at stores across the country.
The company says it will remain fully operational, and physical stores are expected to remain open throughout the liquidation process.
Image via Le Château