Retailer Le Château is seeking court protection from its creditors while it winds down its operations and liquidates its assets. In the three-month period up until July 25, Le Château racked up just $14.7 million in sales across its network of stores and online. As of July, the company says it had about $118 million in assets, against $201 million worth of liabilities. At the time, the chain thanked its landlords for granting the chain $4.6 million worth of rent relief for July and August. Despite that, it still warned there was some doubt about the chain's "ability to continue as a going concern for the next 12 months."

Source: CBC News October 23, 2020 13:52 UTC