Loading articles...

Sail Outdoors Inc. files for bankruptcy protection amid COVID-19 pandemic

Last Updated Jun 2, 2020 at 12:58 pm EDT

LAVAL, Que. — Sail Outdoors Inc. has filed for bankruptcy protection so it can restructure amid the COVID-19 pandemic.

The Laval, Que.-based retailer says in a statement that it filed for protection under the Bankruptcy and Insolvency Act as part of a restructuring process.

CEO Norman Decarie says store closures and other consequences of the pandemic put more pressure on the company’s cash flow and financial health.

He says the situation forced Sail “to make major decisions to ensure the company’s sustainability.”

The company says the filing will allow it to get support while it implements a plan aimed at restoring its financial health and better responding to the retail environment.

Sail, which employs nearly 1,800 people, says its 14 Sail stores and four Sportium stores are open in accordance with provincial public health guidelines.

This report by The Canadian Press was first published June 2, 2020.


The Canadian Press

Latest Traffic & Weather
680 NEWS TRAFFIC @680NEWStraffic 680 News Traffic Twitter verified icon
Updated 29 minutes ago
City Streets: NB/SB Danforth Rd is CLOSED south of Lawrence from Seminole to Barrymore because of downed hydro wires.
Latest Traffic
680 NEWS WEATHER @680NEWSweather 
Updated Today at 03:25 AM
Good Tuesday morning! Becoming less humid today. Some showers and thunderstorms will move through. Your full forec…
Latest Weather