E-Commerce Platform, Brand Assets, and Public Entity of Canadian Retailer Le Château for Sale

NEW YORK, March 16, 2021 /PRNewswire/ -- Hilco Streambank (www.HilcoStreambank.com) announced that it is seeking indications of interest to acquire assets, including the e-Commerce platform, related intellectual property assets, and public entity, of apparel and accessories retailer Le Château (www.lechateau.com) (NEX: CTU.H).

Enriched with a 60-year history that draws heavily on local design and manufacture for fashion conscious women and men, the Le Château brand is beloved for its special occasion and dress offerings. Complementing its 116 stores across Canada, the brand developed a robust e-Commerce platform, including proprietary technology, which accounted for $21.7 million or 13% of gross revenues for FY 2020. E-Commerce sales have enjoyed consistent year over year growth, including growth of over 17% between FY 2019 and FY 2020. Le Chateau's loyal customer base trends heavily to 25- to 44-year old women who during the pandemic have shifted their demand to the direct sales channel generating over 50% growth in the current fiscal year.

"Le Château is well-known as Canada's leading dress and occasion retailer," commented Hilco Streambank Executive Vice President, David Peress. "The brand boasts a well-defined and accepted fashion sensibility and point of view with appeal to women in Canada and the US."

The deadline for submitting indications of interest is Wednesday, April 7, 2021 at 5:00 p.m. EST (U.S.). Any sale is subject to approval of the Quebec Superior Court, District of Montreal, pursuant to the Companies' Creditors Arrangement Act of Canada. Interested parties may learn more by visiting https://www.hilcostreambank.com/lechateau or by directly contacting one of the Hilco Streambank representatives listed below.

About Hilco Streambank 
Hilco Streambank is a market-leading advisory firm specializing in intellectual property disposition and valuation. Having completed numerous transactions including sales in publicly reported CCAA proceedings, U.S. Chapter 11 bankruptcy cases, private transactions, and online sales through IPv4.Global, Hilco Streambank has established itself as the premier intermediary in the consumer brand, internet, and telecom communities. Hilco Streambank is part of Northbrook, Illinois-based Hilco Global, the world's leading authority on maximizing the value of business assets by delivering valuation, monetization and advisory solutions to an international marketplace. Hilco Global operates more than twenty specialized business units offering services that include asset valuation and appraisal, retail and industrial inventory acquisition and disposition, and real estate and strategic capital equity investments.

Forward-Looking Statements
This news release may contain forward-looking statements relating to Le Château and/or the environment in which it operates that are based on Le Château's reasonable expectations, estimates and forecasts. Forward-looking statements in this press release include, but are not limited to, statements with respect to the CCAA proceedings and the liquidation process. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict and/or are beyond Le Château's control. 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 Le Château. 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 Le Château 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.

SOURCE Hilco Streambank