A U.S. advisory firm is hoping that Canadian clothing retailer Le Chateau Inc. will rise from the ashes of insolvency.
Hilco Streambank says Le Chateau’s e-commerce platform, brand assets and some locations are available for purchase through the Companies’ Creditors Arrangement Act proceedings.
Expressions of interest are due April 7 with the sale being subject to approval by the Quebec Superior Court.
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The 60-year-old Montreal-based retailer filed for creditor protection last October, joining several companies that have been affected by the effect of COVID-19 and a change in consumer tastes.
Le Chateau is in the process of liquidating its more than 100 stores across Canada. The online business is scheduled to end Friday at 5 p.m., according to its website.
Hilco says the company’s e-commerce business, including proprietary technology accounted for …