Danier files for bankruptcy protection

Toronto-based company Danier Leather Inc. has filed for bankruptcy protection, reports the Toronto Star today. The leather goods retailer, which has more than 90 stores across Canada, isn't closing up shop just yet.

"It is important to note that the Company is not bankrupt. The Company has sufficient resources to fund its operations during the SISP (Sale and Investor Solicitation Process) and its stores will remain open for business during that time, subject to any restructuring steps that the Company may take during the process," said Danier in a news release.

Danier hasn't been doing too well lately. According to its news release, it has experienced "significant" losses over the past two fiscal years.

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