Quebec-based outdoor retailer La Cordée filed for creditor protection for the second time in six years.
According to documents obtained through The Office of the Superintendent of Bankruptcy Canada, the retailer owes over $17 million in liabilities, including to lenders and suppliers. The two main creditors are Accord Financial, owed $3 million and Equip Outdoor. Technologies Canada, which owns the Rab and Lowe Alpine brands, owed $2 million, according to La Presse.
The company’s main shareholders are British holding company Livewire Outdoor Investments Limited, Malo Trust and Saudi Arabia-based Vision SH Investment LLC.
Founded in 1953, La Cordée operates five outdoor stores across Quebec, including the La Vie Sportive banner in Quebec City, acquired in 2018. The retailer also operates two stores in Montreal and one each in Laval and Longueuil under the La Cordée banner.
In 2020, the retailer sought creditor protection and was subsequently acquired by MACH Capital.
Image courtesy La Cordée
