Another Canadian retailer has sought creditor protection amid financial struggles.
Hakim Optical, a large eyewear and optical chain with more than 140 stores across Canada, is the latest company to file for creditor protection under the Bankruptcy and Insolvency Act. But the stores may remain open.
The company filed a Notice of Intention to Make a Proposal on April 16, according to KSV Restructuring Inc. which is appointed as the proposal trustee.
The total amount owed to creditors is more than $25 million, according to a notice to creditors from KSV.
While the chain has filed under the Bankruptcy and Insolvency Act, KSV Restructuring Inc. said “it is important to note that the Company is not bankrupt.”
The filing will help…
