Stockwatch Daily

Reit­mans fur­ther ex­tends CCAA pro­tec­tion to May 28

- Ms. Katherine Chartrand re­ports

REIT­MANS (CANADA) Ltd. has pro­vided a fur­ther up­date fol­low­ing its fil­ing on May 19, 2020, for cred­i­tor pro­tec­tion pur­suant to the Com­pa­nies’ Cred­i­tors Ar­range­ment Act. Since its ini­tial fil­ing, the com­pany ob­tained ex­ten­sions of the ini­tial or­der un­til Jan. 22, 2021. To­day, the Que­bec Su­pe­rior Court is­sued an ex­ten­sion of the stay of pro­ceed­ings pur­suant to the CCAA un­til May 28, 2021.

Reit­mans con­tin­ues to make progress in the CCAA process with the as­sis­tance of Ernst & Young Inc., the mon­i­tor ap­pointed un­der the CCAA process, and ex­pects to con­tinue to make an­nounce­ments as fur­ther ma­te­rial progress is made.

About Reit­mans (Canada) Ltd.

The com­pany is a lead­ing women’s spe­cialty ap­parel re­tailer with re­tail out­lets through­out Canada. As at Jan. 20, 2021, the com­pany op­er­ated 415 stores con­sist­ing of 245 Reit­mans, 92 Pen­ning­tons, and 78 RW&CO. The com­pany is a pub­licly traded com­pany listed on the TSX Ven­ture Ex­change.

Bruce J Guer­riero, David Jonathan Kassie, Marie Josee Lamothe, Sa­muel Minzberg, Daniel Rabi­now­icz, Stephen F Reit­man, Howard C Stot­land, Robert S Vineberg, Terry Yanof­sky

(RET) Shares: 13,440,000

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