Le Lézard
Classified in: Health, Business, Sports and recreation, Covid-19 virus
Subject: RCN

SAIL Outdoors Inc. is restructuring its operations to better respond to the realities of today's retail environment


The company's SAIL and Sportium stores and online sites continue to operate normally

LAVAL, QC, June 2, 2020 /CNW Telbec/ - SAIL Outdoors Inc., one of Canada's leading retailers, is implementing a restructuring process aimed at repositioning the company in a demanding business environment whose challenges have been accentuated by the COVID-19 crisis.

"For several years now, the retail industry has been undergoing a major transformation characterized, among other things, by an increase in online sales and heightened competition," explains Norman Décarie, President and Chief Executive Officer of SAIL Outdoors Inc. "Unfortunately, the consequences of the pandemic, such as the closure of stores for two months, have added further pressure on our cash flow and financial health. This situation is forcing us to make major decisions to ensure the company's sustainability."

As a result, the company has decided to file for protection under the Bankruptcy and Insolvency Act. This will allow it to obtain necessary support during the implementation of its restructuring plan, which will enable it to better respond to the evolution of the retail business and restore its financial health.

"This strategic decision is the best way to refocus and put our operations on a more solid footing. Our 100% e-commerce dedicated distribution centre, inaugurated last November, demonstrates our commitment to continue to innovate and evolve the company in line with the market and consumer needs." added Mr. Décarie.

The company continues to operate normally. Its SAIL and Sportium stores are open in accordance with Québec and Ontario public health guidelines. The transactional sites, sail.ca and sportium.ca, are also continuing to handle online orders from consumers.

About Sail Outdoors Inc.
A Québec company founded more than 40 years ago, SAIL Outdoors Inc. employs nearly 1,800 people at its head office in Laval and in its stores in Québec and Ontario. SAIL Outdoors Inc. operates 14 stores under the SAIL banner, including eight in Québec and six in Ontario. The company also owns the Sportium banner, which has four stores in Saint-Hubert, Laval, Kirkland and Québec City.

SOURCE SAIL Outdoors Inc.


These press releases may also interest you

at 07:47
Velotric, America's fastest-growing electric bike brand is excited to announce the launch of its newest innovative e-bike, the Discover 2. This cutting-edge model not only offers exceptional power and comfort but also establishes unparalleled safety...

at 07:35
Ant International and Capital A Berhad, owner of AirAsia, have formed a strategic collaboration in various areas, exploring to integrate more local payments methods and providing payment orchestration services to Capital A's platforms, work on...

at 05:30
Cato Networks, the SASE leader, announced a new SASE throughput record here at the Porsche Studio Ginza ahead of the 2024 Tokyo E-Prix, achieving 10 Gbps without hardware upgrades. At 10 Gbps, Cato became the first SASE platform to compete not only...

at 04:00
"The tourism data for Milan in 2023 reached an all-time high, and it's a success we must share among many stakeholders, both public and private, including the dense network of accommodation facilities in the city. We need virtuous examples like Hotel...

at 02:00
- Hoping Guests Will Experience New Value of Traveling in Japan - Sumitomo Fudosan Villa Fontaine Co., Ltd., a Sumitomo Realty Group, has begun offering guestrooms featuring Japan Airlines, a major Japanese carrier, Hatsune Miku, LINE FRIENDS, and...

28 mar 2024
GoBoat, an innovator in personal adventure watercraft, proudly showcases its innovative dog dock ramp, making it easier than ever to bring your furry four-legged companions along for any adventure....



News published on and distributed by: