Unfortunately, the bankruptcy means the closure of 123 stores across Canada. The company also said that it anticipates that stores will reopen when it’s safe to do so, however, Canadian stores had already been dwindling prior to the government-mandated closures of non-essential businesses. That’s why we throw the biggest shopping events across North America and bring you all the latest news in fashion, retail, and shopping. The brand has not announced how many of the stores are going to be closed yet. Start receiving our newsletters ASAP, for the trending retail news you don’t want to miss! The closures will affect 34 underperforming Lowe’s and Rona stores, with all listed stores expected to close by the end of February 2020. Swimco: Swimwear retailer Swimco is closing its door after 45 years, the family-owned, Calgary-based company announced on its website in October, marking the latest Canadian company to fall victim in what has been an extremely difficult year for retailers. As of yet, no store closures have been announced. This news follows the announcement that the Gap flagship in Chicago will also be closing in January 2021. Popular retail brand Gap has announced that they plan to close a number of stores across Canada to focus on its e-commerce store, as well as elevating the stores that remain open. “For many retailers, sadly, this will be their last holiday season. And the retail apocalypse has already claimed many victims in 2020. Although the brand enjoyed popularity in the 90s and early 2000s, they were allegedly unable to keep up with changing fashion and retail trends. The closures will affect 34 underperforming Lowe’s and Rona stores, with all … Articles You Might Be Interested InThe Running List Of Retail Store Closures And Bankruptcies In 2019 10 Canadian Store Closings That Happened In 2019 And Why They Matter BiWay Will Be Reopening In The Summer Of 2020 6 American Stores Worth Crossing The Border For 11 Stories That Shaped Canadian Retail In 2019. Number of stores: 738. The retail biz is getting tougher and tougher with competition heating up and the current COVID-19 pandemic that forced stores to close. Unfortunately, two Hudson’s Bay locations were temporarily shut down by landlords, one in Vancouver, and one in Toronto at Centrepoint Mall. The Complex reports that the company’s plan … Not only did the store sell its own Pink Tartan fashion pieces, but it also offered vintage luxury designer products as well. Then sign up to become an SDInsider. Hopefully this isn’t a glimpse of the future of Hudson’s Bay. J.Crew filed for Chapter 11 Bankruptcy in May 2020, marking one of the first major retailers to do so since the coronavirus outbreak. Stage … With files from CTVNews.ca's Jeremiah Rodriguez, Brooklyn Neustaeter and The Canadian Press, In this Aug. 6, 2020, file photo, a customer leaves a Pier 1 retail store, which is going out of business, during the coronavirus pandemic in Coral Gables, Fla. (AP Photo/Lynne Sladky, File). Squish opened its first store in 2014 in Laval, Que. We were making strong progress with the transformation of our business to tackle these challenges; however, the impact of the COVID-19 pandemic has put too much pressure on our business and our cash flows.” The brand’s filings revealed that not all of its 850 North American stores would reopen after the temporary closures and some will stay closed for good. While J.Crew has filed for Chapter 11 Bankruptcy, its online operations will remain open throughout the restructuring. The store which resides at 60 Bloor Street West has been in that same location for over 30 years now. Once a giant in the Canadian retail landscape, Zellers said its last two remaining locations in Toronto and Ottawa are slated to close early in 2020, CTV News Ottawa reported in … Solarina Ho Le Château: After 60 years in operation, the Montreal-based clothing retailer announced on Oct. 23 that it plans to close 123 stores and liquidate all its assets. A check-in on the public mood of Canadians with hosts Michael Stittle and Nik Nanos. TORONTO -- retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. Pier 1 Imports. Squish: Canadian candy company Squish announced Aug. 13 that it will be closing all of its stores except for its Queen Street West location in Toronto effective immediately. Luckily, you can still shop the brands pieces online or at the Niagara Outlet Collection. Touted as the country’s first discount department store, the company said it would be closing its five remaining locations in Vancouver, New Westminster, B.C., Langley, B.C., Calgary and Edmonton. With the added hardships of COVID-19 on retailers, we’re seeing more shutter for good. The number of bankruptcies this year eclipses the "full-year total for 2019 and rivaling the 45 filings on record for all of 2011," the firm said. Listen and subscribe to get a daily fix on the latest political news and issues. Scholar’s Choice: The educational toys and teaching materials retailer announced on July 10 it was closing 13 stores across the country. Iconic Montreal retailer Le Chateau filed for bankruptcy in October, after 60 years in business. GNC: Health and nutrition retailer GNC announced June 23 that it has filed for bankruptcy in the U.S. and says it will close at least 29 stores in Canada as part of its restructuring. Measures to contain the coronavirus will sharply impact domestic retailers and retail REITs, as will the ensuing recession. The company said the last few months have forced it to re-evaluate its business and customer experience in malls. At the end of November 2019, home improvement chain Lowe’s Canada announced that it would be shuttering stores across Canada in order to improve overall performance. CTVNews.ca Writer. Back in October 2019, once-popular jeweller Links Of London began liquidating its American and U.K. stores, which later foreshadowed what would happen in Canada. Victoria’s Secret has been on the decline for years. Get details about StyleDemocracy hosted events, as well as sales hosted by our trusted partners. In June, Addition Elle and Thyme Maternity announced that stores will permanently close in Canada. The coronavirus is also wreaking havoc on … The Running List Of Retail Store Closures And Bankruptcies In 2019, 10 Canadian Store Closings That Happened In 2019 And Why They Matter, BiWay Will Be Reopening In The Summer Of 2020, 6 American Stores Worth Crossing The Border For, 11 Stories That Shaped Canadian Retail In 2019. Hudson’s Bay has found itself in trouble as the retailer continues to close stores around the country. The technology giant has decided to close all seven of its stores in Canada, as well as most of its physical stores across the world. Such is the current life for McGrail and others in the retail bankruptcy and restructuring fields. Listen and subscribe to get a weekly update with the newsmakers who matter. For the 12 months ending February 1, 2020, Aldo lost $74.8 million in Canada and $52.8 million in the United States. Thyme Maternity and Addition Elle: Financial woes at Reitmans left the company seeking creditor protection and announcing plans to close all stores under its Thyme Maternity and Addition Elle banners, as was announced June 1. With the temporary closure of all 30 Henry’s stores due to COVID-19, the retailer has seen a large impact on its sales. For those that were caught with outdated business models, weak balance sheets, less than exciting brands, short-term investors or near-sighted landlords the holiday will be their swan song,” said Bruce Winder, author of RETAIL Before, During & After COVID-19 and President of Bruce Winder Retail. Here's the full list. At the beginning of the year, a third-quarter fiscal report for Pier 1 Imports revealed that overall sales were down at the home retailer. Retailers Led Bankruptcy Filings in Canada Over the Past 12 Months: Insolvency Insider Mario Toneguzzi - January 20, 2021 The publication tracks filings and one editor says that they expect an increase in filings in early 2021 following rent payment demands from landlords. Pier 1:  Home decor chain Pier 1 announced Feb. 17 that it will close all of its stores in Canada, as the retailer began bankruptcy proceedings in the United States. The Children's Place: Approximately 200 locations of child clothing store The Children's Place will close this year and 100 more next year in Canada and the U.S., company executives said June 11 on an earnings call. More U.S. retail companies sought bankruptcy protection in the first half of 2020 than in any other comparable period. Following the 2008/2009 recession, major retail bankruptcies reached historic highs in 2010, setting the record with 48 filings. facility sent home to self-isolate as cases continue to rise, 14-day lockdown for New Brunswick's Edmundston region set to take effect, 2 Albertans in their 20s among the 13 COVID-19 deaths reported Saturday, Iconic broadcaster Larry King dead at age 87, Archive: Larry King's past interviews with Canada AM, Health Canada approves new COVID-19 rapid testing device, Quebec researchers say they have found an effective drug to fight COVID-19, At least 1 in 3 COVID-19 infections are asymptomatic, study suggests, O'Toole defends decision to oust controversial MP Derek Sloan, Supporters' words may haunt Trump at impeachment trial, Ottawa-based Spartan Bioscience says rapid COVID-19 test approved by Health Canada, Dramatic bodycam footage of woman and dog saved from ice, This bundled-up Bernie meme has the entire internet talking, Loyal dog waits days outside Turkish hospital for its owner, McConnell privately says he wants Trump gone as Republicans quietly lobby him to convict, Police rescue woman and dog from icy waters, U.K. couple gets married in COVID-19 ward, Dog waits days for its owner outside hospital. As we’ve done in past years, we are keeping a watchful eye on the retail store closures and bankruptcies that affect the Canadian market. By using our site, you agree to the. The company employs roughly 1,800 people. Surprisingly, Muji U.S.A. filed for Chapter 11 bankruptcy this year. Noah's Event Venue, a chain offering spaces for various gatherings, technically filed for bankruptcy … The company filed for protection under the Bankruptcy and Insolvency Act and said that this will allow it to obtain support while it implements a restructuring plan. Be the first to find out about the warehouse sales, sample sales, and pop-up sales that StyleDemocracy hosts. Scholar’s Choice also filed for creditor protection through a notice of intention to propose a reorganization plan to restructure the company. While four locations across the world will stay open as they are reimagined, the tech company will be primarily operating online. Links of London: Luxury brand Links of London had planned a major Canadian expansion as recently as 2016, but only ever opened five stores in the country and announced Jan. 10 that all stores will be closed, according to Retail Insider. With that being said, you can still shop the brand through its online store. This news means that 77 Addition Elle and 54 Thyme Maternity locations will close as part of Reitmans’ restructuring plan since it filed for creditor protection. Chuck E. Cheese’s – Secret Pizza Selling Flopped. It’s said that this is part of the brand’s strategy to adapt and grow its online presence. Prior to the pandemic-related closures in March, Swimco had 25 locations in Ontario and Western Canada, according to a court filing. L.A. based denim company Lucky Brand has filed for Chapter 11 bankruptcy. The Gap has officially announced that its Canadian flagship in Toronto will be permanently closing in January 2021. After first opening in Canada in 2015 at Square One in Mississauga, NYX Cosmetics is officially closing all of its Canadians shops. Filing for protection under the CCAA is truly the hardest decision we have had to make as an organization in our almost 100 years of history, but this pandemic has left us no choice,” Chief Executive Officer Stephen Reitman said. It reported this month that sources indicated all nine Vero Moda locations would be closed and 13 of the 51 Jack and Jones stores would also close. The company, which has also filed for creditor protection, said the new retail landscape has forced it to “re-evaluate” its business and that the COVID-19 pandemic worsened an already challenging retail market. Retail Insider reported in February that the Canadian subsidiary of the Danish company was shutting five of its Bestseller branded stores. All data was collected and is up to date as of July 27, 2020. filed for Creditor Protection in September. The brand had already shuttered a handful of its brick and mortars earlier this year, and now the remaining 10 have fallen victim to the closing. Ascena Retail Group, the owner of Ann Taylor, officially filed for Chapter 11 bankruptcy in July. Garage, Dynamite: Montreal-based Groupe Dynamite, Inc. filed for creditor protection in September under the Companies’ Creditors Arrangement Act (CCAA) and will restructure its business, becoming the latest retailer crippled by the economic fallout of the pandemic.The company behind the Garage and Dynamite store brands said COVID-19 caused an “unsustainable strain” on the business, which includes more than 300 North American stores -- 85 of them located in the United States. 15 Canadian Home Decor Stores You Can Shop Online, 60+ Canadian Shopping Websites To Have On Your Radar, The Running List Of Retail Store Closures And Bankruptcies In 2021, 15 Awesome Sales To Shop This Weekend: OAK+FORT, SSENSE, Ardene, Club Monaco & More, 15+ Sales To Shop This Weekend: Aerie, Nordstrom Rack, SSENSE, Coach & More, 10 Of The Best Places To Shop If You Love H&M, The 21 Best Canadian Online Stores for Sneakers, announced that it would be shuttering stores across Canada, retailer announced that all 67 Canadian Pier 1 stores will be closing, Carlton Cards & Papyrus will be closing all North American locations, announced that it would be closing all of its Bench stores, Gap announced that many of its stores would not reopen, Muji U.S.A. filed for Chapter 11 bankruptcy. 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