AU COTON
April 1st, 2002
BY MONICA DOBIE, in MontrealCANADIAN casual clothing retailer Au Coton Inc has announced that it is insolvent and will be restructured under bankruptcy legislation, owing creditors more than CAN$23 million.It is not yet confirmed how many of the 140 stores across the country will be affected.Larger discounters like Walmart and competitive US chains like Gap and Old Navy have affected Au Coton's competitiveness. In the year ending July 2001, the company lost CAN$2million on sales of CAN65$million.In 1993, its subsidiary in the United States, which had 96 stores, ...
Full access to this article can be arranged with permission from the client that first ordered it. Please contact us to request access. Entries are uploaded to our archive at least one year after being published by a client – free access is restricted to International News Services journalists for background research only. The article date indicates when copy was filed to a client, not when posted to this archive. Upon client requests, International News Services will remove such articles from the archive or not upload them in the first place. They are included to demonstrate the breadth of topics undertaken by the agency and also to help promote clients’ coverage.