AU COTON

BY MONICA DOBIE, in Montreal
CANADIAN 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 ...


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