DAVIDsTEA Obtains Claims Process Order under CCAA
September 17 2020 - 6:24PM
DAVIDsTEA Inc. (Nasdaq:DTEA) (“DAVIDsTEA” or the “Company”), a
leading tea merchant in North America, announces that the
Québec Superior Court today issued a Claims Process Order
establishing the claims procedures for the Company’s creditors
under the Companies’ Creditors Arrangement Act (“CCAA”). The Order,
among other things, sets 5:00 p.m. (eastern time) on
November 6, 2020 as the time by which creditors of DAVIDsTEA
and of DAVIDsTEA (USA) Inc., its wholly-owned U.S. subsidiary, must
submit their claims to PwC, the Court-appointment Monitor. The
Court also extended the stay of all proceedings against the Company
currently in effect to December 15, 2020.
The Court Order and related documents will be
available at www.pwc.com/ca/davidstea.
The Company will continue to provide updates
throughout the CCAA restructuring process as events warrant.
About DAVIDsTEA
DAVIDsTEA is a leading branded retailer and
growing mass wholesaler of specialty tea, offering a differentiated
selection of proprietary loose-leaf teas, pre-packaged teas, tea
sachets and tea-related gifts and accessories on our e-commerce
platform at www.davidstea.com and through 18 Company-owned and
operated retail stores in Canada. A selection of DAVIDsTEA products
is also available in more than 2,500 grocery stores and pharmacies
across Canada. The Company is headquartered in Montréal,
Canada.
Investor Contact |
Media Contact |
MaisonBrison Communications |
PELICAN PR |
Pierre Boucher |
Lyla Radmanovich |
514-731-0000 |
514-845-8763 |
investors@davidstea.com |
media@rppelican.ca |
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