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Montreal-based Reitmans has been granted creditor protection while it restructures its 576 stores

Montreal-based Reitmans has been granted creditor protection while it restructures its 576 storesthenakedsnail / Moment / Getty Images Plus

Stephen Reitman, president and CEO of Reitmans "Filing for protection under the CCAA (Companies' Creditors Arrangement Act) is truly the hardest decision we have had to make as an organization in our almost one hundred years of history, but this pandemic has left us no choice.

Reitmans employs some 6,800 people across Canada and will reopen its 576 stores - under the Reitmans, Penningtons, RW & Co., Thyme Maternity and Addition Elle banners - as permitted by various public health orders across the country, the company said.

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