Sail Outdoor Inc. has filed for chapter coverage so it will possibly restructure amid the COVID-19 pandemic.
The Laval, Que.-based store says in a commentary that it filed for cover below the Chapter and Insolvency Act as a part of a restructuring procedure.
CEO Norman Decarie says retailer closures and different penalties of the pandemic put extra drive at the corporate’s money glide and monetary well being.
He says the location pressured Sail “to make primary choices to verify the corporate’s sustainability.”
The corporate says the submitting will permit it to get improve whilst it implements a plan geared toward restoring its monetary well being and higher responding to the retail surroundings.
Sail, which employs just about 1,800 other folks, says its 14 Sail retail outlets and 4 Sportium retail outlets are open in line with provincial public well being tips.