The Bentley chain will close 92 stores, including 25 in Quebec. - Auzle.com

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Saturday, November 16, 2019

The Bentley chain will close 92 stores, including 25 in Quebec.

Bentley sheltered his creditors a few days ago. Front closures: from Monday. The location of the disappearing stores and the number of people who will lose their jobs are unknown. Above, a shop in the Quebec City area.

The Bentley chain will close 92 stores, including 25 in Quebec.
The Bentley chain will close 92 stores, including 25 in Quebec.


Recently sold to a European investment fund, Bentley is sheltered from creditors. The retailer plans to close 92 stores across Canada, including 25 in Quebec, as part of its restructuring.

Over the last few days, Cuirs Bentley Inc. has filed a Notice of Intent to propose to its creditors under the Bankruptcy and Insolvency Act. The debts of the company specializing in the sale of bags and suitcases today amount to $ 36.9 million.

The banner, which has 76 stores in Quebec, owes $ 106,000 to the Ministère du Revenu and $ 127,000 to the Canada Revenue Agency. 


Bentley also has debts of hundreds of thousands of dollars to shopping center owners like Ivanhoe Cambridge, Cominar, and Oxford Properties. KPMG is responsible for the file.

"Changing consumer behavior and the impact of digital disruptions, combined with the operation of more than 250 stores across the country, have had a significant impact on the company's profitability," says the management.

Novacap recently signed an agreement to sell Bentley Leather Inc. RE: Capital, headquartered in the United Kingdom.

Layoffs

Yesterday, it was not possible to know the location of the 92 "less profitable" branches that the new owners plan to close. 

The first shops should go out of business from Monday.

Layoffs will also be made at the head office in Montreal. At present, the company has 1600 employees across the country. Each point of sale has between five and ten workers.

"At this point, we do not have the information for the number of employees who will be affected," answers the Journal Vice President Marketing, Ginette Harnois. 

"Some of the people will be invited to work in other stores," she says.

Management hopes that the recovery plan will allow the banner to regain its financial health.

It is not the first time the chain is in this position. In 2008, it also escaped bankruptcy. It had almost 530 points of sale.

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