×
209
Fashion Jobs
PAUL SMITH
Junior Art Director - Japan
Permanent · TOKYO
360 TALENT LONDON
Senior Sales Executive
Permanent · LONDON
PAUL SMITH
Franchise Regional Executive
Permanent · LONDON
CONFIDENTIAL
Kidswear Area Manager - UK Market
Permanent · LONDON
BURBERRY
Retail Training Manager Emeia
Permanent · LONDON
CALZEDONIA GROUP
Key Holder
Permanent · LONDON
DR MARTENS - AIRWAIR INTERNATIONAL
Footwear Purchasing And Planning Aid
Permanent · WOLLASTON
HOMEGOODS
Loss Prevention Detective
Permanent · Edina
THE KOOPLES
Part - Time Sales Assistant 30 Hours - Bath
Permanent · BATH
JU-NNA
Studio Intern
Internship · LONDON
SANDRO UK
Sales Assistant - 12 Hours m/f
Temp/seasonal · LONDON
ZADIG & VOLTAIRE
Sales Assistant
Permanent · LONDON
THE SIMPLE FOLK
Graphic Designer And Image Retoucher
Freelance ·
MOON
Retail Manager - York Flagship Store
Permanent · YORK
RELY RECRUITMENT
Luxury Menswear Concession Sales Manager
Permanent · LONDON
CLAUDIE PIERLOT UK
Sales Assistant - 16h - Temporary - Birmingham - UK Nord m/f
Fixed-term · BIRMINGHAM
CLAUDIE PIERLOT UK
Sales Assistant - 16h - Permanent - Birmingham - UK Nord m/f
Permanent · BIRMINGHAM
HEIDI KLEIN
Wholesale Assistant
Internship · LONDON
VIVIENNE WESTWOOD LTD
E-Commerce Customer Service (Maternity Cover)
Fixed-term · LONDON BOROUGH OF MERTON
FRENCH CONNECTION
Womenswear Woven Design Internship
Internship · LONDON
SANDRO UK
Sales Assistant - 24 Hours - Ashford Store m/f
Permanent · JERSEY CITY
LE COLONEL MOUTARDE
Sales Assistant
Internship · LONDON
Advertisements
By
Reuters
Published
May 8, 2020
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Aldo Group to restructure as Covid-19 pressure weighs

By
Reuters
Published
May 8, 2020

Canada’s privately held Aldo Group Inc said on Thursday it would restructure under the Companies’ Creditors Arrangement Act (CCAA) as the impact of the Covid-19 outbreak weighed on the footwear retailer’s business.


Aldo


The announcement follows the high-profile bankruptcies of Neiman Marcus Group and J. Crew Group Inc, as retailers around the world face unprecedented disruption and heavy debt piles brought on by the pandemic.

“The impact of the Covid-19 pandemic has put too much pressure on our business and our cash flows,” said Aldo’s Chief Executive Officer David Bensadoun.

The CCAA is a Canadian Federal Act that allows large corporations to restructure their finances and avoid bankruptcy, while allowing creditors to receive some form of payment for amounts owed to them.

Montreal-based Aldo said the websites for its brands Aldo, Call It Spring and Globo would remain functional throughout the restructuring process.

All 6,680 store associates and more than half of the employees at its headquarters have been furloughed according to a BNN Bloomberg report.

The company said it expects to carry on business while developing a restructuring plan and is looking to avail the same protection in the United States and Switzerland.

© Thomson Reuters 2021 All rights reserved.