MONTREAL, March 26, 2020 /CNW Telbec/ - Last week, on March 17th, Reitmans (Canada) Limited (the "Company") voluntarily closed on a temporary basis all of its 587 stores to customers in support of collective efforts to help limit the spread of the virus, and to protect the health and well-being of its employees and customers. Given the rapidly evolving COVID-19 crisis, the Company confirms that it will keep all stores closed to customers until further notice.
Furthermore, Reitmans (Canada) Limited has made the necessary decision to temporarily lay off 90% of its Canadian retail store employees, across all five of its brands: Reitmans, Penningtons, Addition Elle, RW&CO. and Thyme Maternity, effective March 29th. This decision also affects approximately 30% of the Company's Montreal Head Office employees, effective March 30th. In addition, all remaining employees are being asked to collectively contribute to on-going cost-saving initiatives.
Reitmans (Canada) Limited will continue to closely monitor the evolution of the COVID-19 situation and comply with the directives of the municipal, provincial and federal governments. It is the intention of the Company to call impacted employees back to work as soon as possible.
At this moment, the Company is solely driven by online sales and continues to operate its Distribution Centre in Montréal with strict cleaning protocols and social distancing measures. It is important to note that, while the Québec Government ordered the temporary closure of all non-essential stores and services, ecommerce activities remain permitted at all times, for all businesses.
Stephen F. Reitman, President and CEO of Reitmans (Canada) Limited, said: "In our 90+ years' history, we have never had to turn to such drastic measures as those announced today. We are very saddened by the situation, but also confident that we are doing the right thing to overcome these times of hardship and position ourselves to bounce back as quickly as possible. We are beyond grateful to all our valued employees and thank them for their support and understanding. As always, their safety and their family's well-being are paramount and we will continue to follow guidance from federal, provincial and local public health authorities."
About Reitmans (Canada) Limited
The Company is a leading ladies apparel retailer with retail outlets throughout Canada. The Company employs approximately 7,000 people and operates 587 stores consisting of 260 Reitmans, 112 Penningtons, 79 Addition Elle, 81 RW & CO. and 55 Thyme Maternity. The Company is a publicly traded company listed on the Toronto Stock Exchange (TSX: RET, RET-A). For more information, visit www.reitmanscanadalimited.com.
SOURCE Reitmans (Canada) Limited
For further information: please contact: Katherine Chartrand, Director of Corporate Communications, [email protected]