Canadian retailer Le Chateau Inc. says it has completed the sale of its intellectual property and assets to Suzy's Inc.
The sale comes as Le Chateau looks to complete the wind up of its operations under court protection from creditors under the Companies' Creditors Arrangement Act.
The deal was cleared by the Quebec Superior Court on June 22 and was completed today, Le Chateau said.
The company said all of Le Chateau's executives and directors resigned following the closing of the sale.
Suzy's specializes in women's clothing and footwear with more than 130 stores across Canada.
Le Chateau was one of many Canadian retailers that filed for bankruptcy during the pandemic.
This report by The Canadian Press was first published June 25, 2021.
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