The Laval-headquartered SAIL sports and outdoor equipment retail chain announced on Tuesday that is filing for bankruptcy and insolvency status in order to protect itself from creditors while restructuring and recovering from the devastating economic impact of the COVID-19 pandemic.
In a statement issued on June 2, SAIL Outdoors Inc. CEO Norman Décarie said store closures and other fallout from the pandemic seriously compromised the company’s cash flow and finances.
SAIL employs 1,800 people at its 14 SAIL locations, four Sportium stores, and its corporate headquarters in Laval. The company said the stores will continue to operate as usual during the reorganization, although with reduced hours in accordance with current COVID-19 public health guidelines.
