An Update Regarding Le Château Stores
March 18 2020 - 12:54PM
Le Château Inc. (the “Company”) (TSX VENTURE: CTU) today announced
an update for their customers and community in regards to the
COVID-19 crisis.
The health and safety of our community –
employees and customers alike – remain our top priority.
As a result, we will be temporarily closing our
stores starting today, Wednesday, March 18th, through Sunday, March
29th. We will continue to monitor the situation closely during this
period, and we will be taking into account the latest guidance of
health and government officials to confirm the right time to return
to business. As it is a very dynamic and complicated situation,
these plans may change quickly. If so, we will inform you in a
timely manner.
During this time, we remain committed to serving
our customers. While we will miss seeing you in our stores, we are
here to serve you online any time at
www.lechateau.com.
Although this remains a challenging situation
for us all, we look forward to a speedy return to more joyful
times. Until then, let’s continue to look out for each other.
Profile
Le Château is a Canadian specialty retailer and
manufacturer of exclusively designed apparel, footwear and
accessories for contemporary and style-conscious women and men,
with an extensive network of 128 prime locations across Canada and
an e-com platform servicing Canada and the U.S. Le Château,
committed to research, design and product development, manufactures
approximately 30% of the Company’s apparel in its own Canadian
production facilities.
Forward-Looking
Statements
This news release includes and refers to
forward-looking statements relating to the Company and/or the
environment in which it operates. These forward-looking statements
address various matters including the fact that the Company’s
stores will be temporarily closed until a certain date and are
based on, among other things, the Company’s current expectations as
well as the latest guidance of health and government officials.
These statements are not guarantees of future performance and
involve risks and uncertainties that are difficult to predict
and/or are beyond the Company’s control. These risks include that
the outbreak of the COVID‐19 coronavirus or any other similar
illness could cause shortages of employees to staff the Company’s
stores, interrupt supplies from third parties upon which the
Company relies, result in governmental regulation adversely
impacting the Company’s business and otherwise have a material
adverse effect on the Company’s business, financial condition and
results of operations. Such adverse effect could be rapid and
unexpected. A number of factors may cause actual outcomes and
results to differ materially from those expressed. These factors
also include those set forth in other public filings of the
Company, including the annual MD&A of the Company dated May 27,
2019 and note 2 of the unaudited interim condensed consolidated
financial statements of the Company dated October 26, 2019.
Therefore, readers should not place undue reliance on these
forward-looking statements. In addition, these forward-looking
statements speak only as of the date made and the Company disavows
any intention or obligation to update or revise any such statements
as a result of any event, circumstance or otherwise except to the
extent required under applicable securities law.
Factors which could cause actual results or
events to differ materially from current expectations include,
among other things: the magnitude and length of economic disruption
as a result of the worldwide COVID-19 outbreak; liquidity risks;
the ability of the Company to continue as a going concern; the
ability of the Company to successfully implement its business
initiatives and whether such business initiatives will yield the
expected benefits; changes in consumer spending; general economic
conditions and normal business uncertainty; seasonality and weather
patterns; changes in the Company’s relationship with its suppliers;
fluctuations in foreign currency exchange rates; and interest rate
fluctuations and changes in laws, rules and regulations applicable
to the Company. The foregoing list of risk factors is not
exhaustive and other factors could also adversely affect our
results.
For further
information
Emilia Di Raddo, CPA, CA, President (514)
738-7000Johnny Del Ciancio, CPA, CA, Vice-President, Finance, (514)
738-7000MaisonBrison: Pierre Boucher, (514)
731-0000Source: Le Château Inc.
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