Protection against creditors: new stay for Reitmans

Protection against creditors: new stay for Reitmans

Reitmans obtained on Friday, before the Superior Court of Quebec, an extension until May 28 of the order protecting her from any proceedings that may be brought against her.

The company founded in 1926, in Montreal, filed for protection against its creditors on May 19, under the terms of the Companies’ Creditors Arrangement Act (CCAA). This was subsequently extended on more than one occasion until January 22, 2021. The new deadline continues until the end of May.

“Reitmans continues to advance the CCAA proceeding with the assistance of Ernst & Young, the monitor appointed in the proceeding, and plans to continue to make announcements as it moves further. important to the procedure, ”the company said in a press release.

Reitmans operates 415 stores, comprising 245 Reitmans, 92 Penningtons and 78 RW&CO.

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