{"id":14239,"date":"2020-05-09T07:44:00","date_gmt":"2020-05-09T11:44:00","guid":{"rendered":"https:\/\/framinghamsource.com\/?p=14239"},"modified":"2020-07-15T19:55:12","modified_gmt":"2020-07-15T23:55:12","slug":"canadian-shoe-retailer-files-chapter-15-bankruptcy","status":"publish","type":"post","link":"https:\/\/framinghamsource.com\/index.php\/2020\/05\/09\/canadian-shoe-retailer-files-chapter-15-bankruptcy\/","title":{"rendered":"Canadian Shoe Retailer Files Chapter 15 Bankruptcy"},"content":{"rendered":"\n<p><strong>[broadstreet zone=&#8221;53820&#8243;]<\/strong><\/p>\n\n\n\n<p>NATICK &#8211; A Montreal-based footwear retailer announced this week it has received a Companies\u2019 Creditors Arrangement Act from the Superior Court of Qu\u00e9bec, and voluntarily filed Chapter 15 bankruptcy in the United States.<\/p>\n\n\n\n<p>Founded in 1972, Aldo has a location in the Natick Mall on the first floor. Aldo operates more than 400 stores and has 3,300 employees in the U.S.<\/p>\n\n\n\n<p><strong>[broadstreet zone=&#8221;59948&#8243;]<\/strong><\/p>\n\n\n\n<p>\u201cAldo is one of the world\u2019s leading fashion footwear and accessory brands with a solid track record of growth and profitability for almost half a century. It is no secret that the retail industry has experienced rapid and significant change over the last several years,\u201d said Aldo Group CEO David Bensadoun. \u201cWe were making strong progress with the transformation of our business to tackle these challenges; however, the impact of the COVID-19 pandemic has put too much pressure on our business and our cash flows.\u201d<\/p>\n\n\n\n<p> Prior to the coronavirus pandemic, Aldo U.S. was struggling. The company posted a net loss of $52.8 million for the 12 months prior in February 2020.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"427\" height=\"618\" src=\"https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/03\/furniture.store_.source.house_.ad_.2019.png\" alt=\"\" class=\"wp-image-4609\" srcset=\"https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/03\/furniture.store_.source.house_.ad_.2019.png 427w, https:\/\/framinghamsource.com\/wp-content\/uploads\/2020\/03\/furniture.store_.source.house_.ad_.2019-207x300.png 207w\" sizes=\"auto, (max-width: 427px) 100vw, 427px\" \/><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>[broadstreet zone=&#8221;53820&#8243;] NATICK &#8211; A Montreal-based footwear retailer announced this week it has received a Companies\u2019 Creditors Arrangement Act from the Superior Court of Qu\u00e9bec, and voluntarily filed Chapter 15 bankruptcy in the United States. Founded in 1972, Aldo has a location in the Natick Mall on the first floor. Aldo operates more than 400 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14240,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"_wpas_customize_per_network":false},"categories":[9,8],"tags":[5011,4937,5012,1171,177],"class_list":["post-14239","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-natick-source","tag-aldo","tag-bankruptcy","tag-chapter-15-bankruptcy","tag-natick-mall","tag-natick-source"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Canadian Shoe Retailer Files Chapter 15 Bankruptcy - Framingham Source<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/framinghamsource.com\/index.php\/2020\/05\/09\/canadian-shoe-retailer-files-chapter-15-bankruptcy\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Canadian Shoe Retailer Files Chapter 15 Bankruptcy - Framingham Source\" \/>\n<meta property=\"og:description\" content=\"[broadstreet zone=&#8221;53820&#8243;] NATICK &#8211; A Montreal-based footwear retailer announced this week it has received a Companies\u2019 Creditors Arrangement Act from the Superior Court of Qu\u00e9bec, and voluntarily filed Chapter 15 bankruptcy in the United States. 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