| Source: DAVIDsTEA
multilang-release
- Company to accelerate transition to online retailing and wholesale distribution in North America
- Intends to significantly reduce brick & mortar footprint
- DAVIDsTEAs online business at www.davidstea.com and sales in grocery stores and pharmacies across Canada will continue during the restructuring process
MONTREAL, July 08, 2020 (GLOBE NEWSWIRE) — DAVIDsTEA Inc. (Nasdaq:DTEA) (DAVIDsTEA or the Company), a leading tea merchant in NorthAmerica, announces that it is implementing a restructuring plan under the Companies Creditors Arrangement Act (Canada) (theCCAA) in order to accelerate its transition to an online retailer and wholesaler of high-quality tea and accessories. T…
Read the full article at: https://www.globenewswire.com/news-release/2020/07/08/2059269/0/en/DAVIDsTEA-to-Implement-Restructuring-Plan-Under-Companies-Creditors-Arrangement-Act.html