Another Canadian Landmark Enters Bankruptcy Protection

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In a sign of the continuing disruption in Canada’s retail landscape, Reitmans Canada Ltd. was recently granted creditor protection in Quebec proceedings under the federal Companies’ Creditors Arrangement Act. Founded in 1926, Reitmans enters protection with 576 stores across Canada and a significant online presence.

Reitmans landlords can expect disclaimers of leases in underperforming locations as Reitmans attempts to navigate a return to profitability, just as retail operations across the country begin the first steps towards a return to normal operations.

Look to experienced advice when confronting insolvency, whether in your own business or in a business with which you interact.

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