mattress bathtub & past Inc.’s Canadian division will shut down its shops under courtroom safety after the agency obtained an unusual lifeline earlier this week to save tons of its U.S. operations from chapter.
The troubled house-items retailer on Friday filed its Canadian division for cowl under the corporations’ collectors association Act, Canada’s tough equal of chapter eleven chapter. mattress bathtub & past has “reluctantly concluded” that even with the lifeline of its latest equity elevate, there isn’t sufficient capital obtainable each to restructure its U.S. enterprise and produce the Canadian enterprise to profitability, the agency mentioned in filings with an Ontario courtroom.
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