Tristan latest Canadian fashion retailer to seek creditor protection | iNFOnews | Thompson-Okanagan's News Source

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Tristan latest Canadian fashion retailer to seek creditor protection

A Tristan store is seen, Tuesday, August 4, 2020 in Laval, Que. The clothing retailer has filed for bankruptcy protection.THE CANADIAN PRESS/Ryan Remiorz
August 04, 2020 - 6:50 AM

Montreal-based retailer Boutique Tristan & Iseut Inc. is seeking creditor protection.

The company behind the Tristan fashion brand filed a notice of intention on July 21 to file a proposal under the Bankruptcy and Insolvency Act, according to documents posted online by trustee MNP Ltd.

MNP says the notice is often the first stage of a restructuring process, and protects companies from creditors until they can create a plan to reorganize.

Tristan joins other Canadian retailers, such as Frank and Oak. Reitmans and Aldo Group, that have filed for some form of creditor protection in recent months.

The company, founded in 1973, had long promoted that up to 30 per cent of its clothing was Canadian-made.

More recently, Tristan has been manufacturing face shields for use as protective equipment during the COVID-19 pandemic.

This report by The Canadian Press was first published Aug. 4, 2020.

News from © The Canadian Press, 2020
The Canadian Press

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