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Chico’s Canada Files for Bankruptcy With Plan to Close Stores

July 31, 2020, 2:51 PM

Chico’s FAS Inc.’s Canadian subsidiary filed for bankruptcy with a plan to permanently close its 10 stores in the country as the Covid-19 pandemic intensified pressure on the struggling retailer.

The Canadian bankruptcy filing is part of Chico’s FAS’s efforts to cut costs, mitigate the impact of the new coronavirus, and address operational and financial challenges associated with operating in Canada, the company said in a U.S. securities filing. It expects to record a non-material charge to its 2020 fiscal year as a result of the Canadian bankruptcy.

The women’s clothing chain filed for bankruptcy with the Ontario office ...

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