Aldo Group completes restructuring process

Canada
Published:  21 July, 2022
Credit: Aldo

Mid-priced footwear and accessories manufacturer Aldo Group has announced that its restructuring process, initiated in May 2020, has ended.

The process began when the company filed for protection under the Companies' Creditors Arrangement Act (CCAA) as a result of the Covid-19 pandemic.

As a result, Aldo Group can now pay its creditors, pursuant to terms. As of June 2022, the company reports that all of its Aldo Group International creditors have been paid, and all payments to North American creditors will be issued within the next few months.

“It is with great relief that we put this process behind us, and with excitement that we now look ahead. The work and restructuring we’ve done over the past two years have built us a solid foundation on which to grow, and we’re confident in what the future will bring,” said CEO David Bensadoun.

I want to take this opportunity to thank our associates, customers and partners for their support and trust during these unprecedented times.”