Gecko Express Corporation, owner of Le Charlemagne stores, agrees with its creditors for its stores in Charlesbourg and Place de la Cite.
In February, the company placed itself under the protection of the Creditors Arrangement Act after being forced to close its branches in Drummondville and Joliette in September. At the beginning of March, the Nominis portal (formerly known as GDL Crédit Ressource Québec) indicated that these two stores went bankrupt.
On Thursday, the creditors of Gecko Express Corporation agreed to 92% of the offer submitted by the clothing retailer. According to the case filed by Primeau, Proulx and Associate of Longueuil, Gecko Express owed more than $ 1.2 million, more than $ 766,000 to its unsecured creditors and $ 456,000 to its secured creditors.
“We still have many good years ahead of us. It was a mistake and I think that our creditors have accepted, because the notoriety of the Charlemagne is already solid, “said the president of the company, Benoit Poulin. “I personally contacted the company owners and asked them to assist us in our efforts,” he added.
But the boss does not hide his experience outside of Quebec City has not been easy. To open its two stores, the businessman and his partner had invested approximately $ 600,000 in 2014.
“We were bold and wanted to open other shops and eventually it did not work as we thought. The clientele was not present, “explains Poulin. “Even if the economic context was difficult, we wanted to open stores to replace somewhat the banners that have closed in recent years. This story is now behind us, “he continues.
Although his adventure was not a success, the businessman does not rule out the possibility of making other little ones someday. For now, however, he wants to focus on the two branches of the region. About 15 employees work in these stores. “We do not say no, but not for the moment. We are very optimistic about the future, “he concluded.
Founded in 1997 by Rene Poulin, father of Benoit, Le Charlemagne blows this year its thirty candles.