Good news for Aldo. The North American creditors of the Quebec company known worldwide for its shoes voted in favor of the restructuring plan, nearly two years after it placed itself under the protection of the Companies’ Creditors Arrangement Act ( CCAA).
Posted yesterday at 5:15 p.m.
“After a thorough restructuring process, announcing our imminent exit, we know that the Creditors Arrangement Act was the right way forward to solidify the financial foundations of the ALDO Group and ensure its sustainability”, declared, the chairman -General Manager of the Aldo Group, David Bensadoun, in a press release on Tuesday.
The company refuses for the moment to grant interviews to the media “given that the legal process is still in progress”.
Groupe Aldo took shelter from its creditors in May 2020. The company had to leave its majestic head office – located on rue Émile-Bélanger in the borough of Saint-Laurent – a few months later to settle move into a smaller space on Hodge Street. Nearly 849 people work there.
Aldo in numbers
Number of stores in Quebec: 66
Number of stores in Canada: 217
Number of stores worldwide: 1509
Total number of employees in Canada: 3188 (head office and stores)
Source: Aldo Group