Reitmans Announces New Online Marketplace After Exiting From Creditor Protection | national company
MONTREAL – Hot on the heels of creditor protection, Reitmans (Canada) Ltd. has announced plans to launch an online women’s clothing marketplace.
The Montreal-based company says RCL Market will be available online this fall and will feature its three brands, Reitmans, Penningtons and RW&CO.
Reitmans says the marketplace will also offer “handpicked, quality products from partner brands” and invites interested sellers to apply to sell apparel on its new site.
Jackie Tardif, Reitmans brand president, says the company’s e-commerce business has grown exponentially in recent years and that RCL Market will further transform the way its customers shop online.
Reitmans said earlier this month it had paid $95 million and left creditor protection after nearly two years.
The company said it paid court-appointed monitor Ernst & Young Inc. to distribute the funds to creditors in accordance with the plan of arrangement.
Reitmans filed for protection from its creditors and obtained an initial order under the Companies’ Creditors Arrangement Act in May 2020.
The womenswear retailer operates 412 stores including 241 Reitmans, 93 Penningtons and 78 RW&CO.
This report from The Canadian Press was first published on January 26, 2022.
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