CANADA: Creditors Back Tabi Restructuring Plan
Clothing chain Tabi International Corp, formerly Cotton Ginny Ltd, is expected to emerge from bankruptcy protection this week after its reorganisation plan was overwhelmingly accepted by its creditors.
The women's apparel retailer filed for bankruptcy protection in mid-January and has since sold its remaining Cotton Ginny retail locations, warehousing and Toronto head office facilities as part of its restructuring plan.
Tabi International has continued to operate as a distinct company since April when it amended its name to "Tabi International Corp".
"I would like to sincerely thank our employees, creditors and investors for their continued support throughout this process," said Larry Gatien, interim president and chief executive officer of Tabi International.
"Tabi has a solid track record, including positive financial results over the last several years. We are looking forward to our emergence as a stronger and healthier company capable of leveraging our brand recognition and solid market presence - including 89 retail outlets across Canada - to drive our future success."
- Fashion fit for the future – strategies for speed
- How PVH is paving the way for connected apparel
- Digitisation to drive new apparel-making models
- Under Armour Lighthouse will disrupt production
- Pakistan industry seeks help to kickstart exports
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Child refugees found in Turkey apparel factories
- Chinese manufacturer invests $20m in US facility
- Managing change in the move to new tech tools
- Hong Kong's Winds Group to open Haiti factory
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global Sports and Fitness Wear Market 2016-2020
- Global market review of lingerie – forecasts to 2022