Reitmans announces new online marketplace after emerging from creditor protection
BNN Bloomberg
Fresh off the heels of creditor protection, Reitmans (Canada) Ltd. has announced plans to launch an online marketplace for women's clothing.
MONTREAL -- Fresh off the heels of creditor protection, Reitmans (Canada) Ltd. has announced plans to launch an online marketplace for women's clothing.
The Montreal-based company says RCL Market will be available online this fall and feature its three brands, Reitmans, Penningtons and RW&CO.
Reitmans says the marketplace will also offer "hand-picked quality value products offered by partner brands" and is inviting interested vendors to apply to sell clothing on its new site.
Jackie Tardif, president of the Reitmans brand, says the company's e-commerce business has grown exponentially in recent years and RCL Market will further transform the way its customers shop online.
Reitmans said earlier this month it had paid $95 million and exited creditor protection after nearly two years.
The company said it paid court-appointed monitor Ernst & Young Inc. to distribute funds to creditors according to the plan of arrangement.
