Canada’s DavidsTea Plans Bankruptcy After Covid-19 Losses
Photographer: Sanjit Das/Bloomberg
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Specialty tea store DavidsTea Inc. will seek protection from its creditors after Covid-19 shutdowns closed its shops and kept customers at home.
The Canadian chain is using the Companies’ Creditors Arrangement Act, with a hearing expected today in Québec Superior Court, and expects to file for Chapter 15 bankruptcy in the U.S., according to a company statement.