DAVIDsTEA Obtains Claims Process Order under CCAA

Written by Customer Service on . Posted in Public Companies.

MONTREAL, Sept. 17, 2020 (GLOBE NEWSWIRE) — 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 DAVIDsTEADAVIDsTEA 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.

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.