Montreal-based shoe chain Aldo Group is seeking protection from its creditors in Canada, the United States and Europe because of disruptions caused by COVID-19. In a press release Thursday, the company said it has been pummelled by the COVID-19 pandemic just like other retailers. The company is asking courts in Canada and the U.S. for protection from creditors while it restructures the business. In Canada, the company has filed under Companies' Creditors Arrangement Act, the law that covers businesses that have gone insolvent. "We will come out stronger and well-positioned to continue leading the way in fashion retail," Bensadoun said.

Source: CBC News May 07, 2020 18:09 UTC