Sign up for our newsletter and get a curated list of the top trending stories and exclusive rewards every day.

Trending Topics

Get the MTL Blog app

Download on the App StoreGet it on Google Play

DAVIDsTEA Is Reopening Just 7 Stores In Quebec

The company will reopen 11 more stores across Canada.
Staff Writer
DAVIDsTEA Is Reopening Just 7 Stores In Quebec

DAVIDsTEA, the Montreal-based tea company, is planning to reopen 18 stores across Canada, seven of which are in Quebec. The stores will reopen under "more favourable lease terms," according to a press release.

DAVIDsTEA was forced to restructure its business, closed several retail stores, and focused on online service due to filing for protection under the Companies' Creditors Arrangement Act (CCAA) in early July

Editor's Choice: 13 Bucket-List Spots To Take Someone If They've Never Been To Montreal Before

"

DAVIDsTEA expects to reopen the 18 stores by the end of August 2020.

DAVIDsTEA

"Our decision to reopen these select stores is consistent with our objective to create a leaner, more efficient company, positioned for long-term growth," said Herschel Segal, Founder, Chairman and Interim CEO of DAVIDsTEA.

"We are very pleased that the landlords for these 18 stores have offered more advantageous rent conditions to us in light of the COVID-19 pandemic," added Frank Zitella, CFO and COO of DAVIDsTEA.

In the next 30 days, the company will close another 82 retail locations. 

More from MTL Blog

Comments 💬

Our comment section is a place to promote self-expression, freedom of speech and positivity. We encourage discussion and debate, but our pages must remain a safe space where everyone feels comfortable and the environment is respectful.

In order to make this possible, we monitor comments to keep spam, hate speech, violence, and vulgarity off our pages. Comments are moderated according to our Community Guidelines.

Please note that Narcity Media does not endorse the opinions expressed in the comment section of an article. Narcity Media has the right to remove comments, ban or suspend any user without notice, or close a story’s comment section at any time.

First and last names will appear with each comment and the use of pseudonyms is prohibited. By commenting, you acknowledge that Narcity Media has the right to use & distribute your content across our properties.

Loading...