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DavidsTea files for bankruptcy protection while negotiating with landlords

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globalnews.ca

It had warned in mid-June that it could begin a formal restructuring, depending on the outcome of its talks with landlords.The company said at the time that it hadn’t paid rent on any of its stores for April, May and June.DavidsTea’s founder and interim chief executive, Herschel Segal, says the goal of restructuring is to decrease losses caused by unprofitable stores and to continue wholesale and online sales..

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