Footwear brand Aldo completes restructuring, emerges from creditor protection

Aldo says it has completed a restructuring process it launched in May 2020 when it filed for creditor protection amid COVID-19 pandemic shutdowns.

The Montreal-based footwear and fashion accessories company says it can now pay its creditors as outlined in its approved restructuring plan.

It says all international creditors were paid as of late last month while payments to North American creditors will be issued within the next few months.

Pandemic restrictions decimated the retail landscape in Canada and forced dozens of retailers to file for court protection or close permanently.