Jack & Jones to protect itself from its creditors

Jack & Jones à l’abri de ses créanciers

The canadian division of the Danish group Bestseller, which owns brands Jack & Jones and Vero Moda, is to protect itself from its creditors. The company has debts of close to$40 Million.

It is the trustee Litwin Boyadjian who will lead the folder, one can read in a document sent on 2 June at the Office of the superintendent of bankruptcy. The company was placed under the protection of the bankruptcy and insolvency act with the intention to make a proposal to its creditors.

The headquarters of the canadian division of best-Seller is located in Montreal. The company has sixty stores in Canada, 27 of which are in Quebec, according to data from its website. It has not been possible to get more information, Wednesday, on the restructuring plan.

In Canada, Bestseller breaststroke primarily of business with its brand Jack & Jones and its 51 stores. They are located in several shopping centres. Chain stores across the province were still open Wednesday.

The group Bestseller specializes in clothing for men and for women. The company, founded in 1975, sells its products mainly in Europe, Canada, the Middle East, India and the United States.

The retailer has a network of more or less 3000 stores located in 38 countries. The clothes of the company are also sold in approximately 15,000 independent shops.

– With the collaboration of Philippe Langlois

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