Canadian retailer Le Château Inc. says it has completed the sale of its intellectual property and assets to Suzy’s Inc.
The sale comes as Le Château 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 Friday Le Château said.
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The company said all of Le Château’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.
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Le Château was one of many Canadian retailers that filed for bankruptcy during the pandemic.
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