Sadly, the brand has decided that it will be closing all of its stores in Canada. This article originally appeared on GOBankingRates.com : The 2020 Retail Apocalypse Claims … Retail Carnage Deepens as Pandemic’s Impact Exceeds Forecasts Chapter 11 filings by major retailers in 2020 have already surpassed last year’s total and show no sign of letting up 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. Both retail conglomerates operate stores primarily in suburban shopping … Ronsons: The Vancouver-based shoe retailer announced on April 8 that it was in receivership and closing its 18 stores, all of which are located in British Columbia. The company, which has been operating since 1987, filed a notice of intention on July 14 to make a proposal under Canadian bankruptcy law. Use of this Website assumes acceptance of Terms & Conditions and Privacy Policy, Published Sunday, June 14, 2020 2:47PM EDT, Last Updated Friday, October 23, 2020 4:44PM EDT, Follow CTV News Channel for ongoing breaking news, filed for insolvency and plans to close its 28 stores. Annual revenue: $1.58 billion in 2018. The company operated 19 stores in total, eight in British Columbia, seven in Alberta, two in Manitoba, and one each in Saskatchewan and Ontario. TORONTO -- StyleDemocracy is North America's number one source for the latest warehouse sales, pop-up shops, and sample sales happening in your city. The company’s debt stands at $287 million and that’s not including rents owed for April and May of this year — the company failed to pay rents which has also put landlords in a … Aldo: Montreal-based The Aldo Group said May 7 that it was entering creditor protection. The retail biz is getting tougher and tougher with competition heating up and the current COVID-19 pandemic that forced stores to close. The brand plans to continue operations and allegedly has plans to sell the company to the owner of Aéropostale and Nautica. DavidsTea: The Montreal-based beverage retailer announced on July 30 that it would only reopen 18 of its stores in Canada, shuttering 166 Canadian locations and all of its 42 U.S. stores to focus more on its e-commerce business and supplying grocery stores and pharmacies. The closures will lead to the end of about 1,400 jobs – 500 at the company’s head office and 900 store employees. 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. According to Retail-Insider, the main goal is to liquidate all inventory in anticipation of these permanent closures which are planned for July 18 for Thyme Maternity and August 15 for Addition Elle. 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. Its online store will remain open, but all sales are final and no returns or gift cards will be accepted. 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. 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. In a press release, David Bensadoun, Chief Executive Officer of the company, said, “It is no secret that the retail industry has experienced rapid and significant change over the last several years. This news follows the announcement that the Gap flagship in Chicago will also be closing in January 2021. J.Crew filed for Chapter 11 Bankruptcy in May 2020, marking one of the first major retailers to do so since the coronavirus outbreak. The company said the last few months have forced it to re-evaluate its business and customer experience in malls. Quebec-based sporting goods retailer SAIL Outdoors Inc., which operates SAIL and Sportium has just filed for bankruptcy protection. The closures are part of Ascena’s Chapter 11 bankruptcy proceedings in the U.S. and restructuring plans in the wake of the pandemic. “For many retailers, sadly, this will be their last holiday season. Sign up for our newsletter and have first access to top warehouse sales, online shopping offers and exclusive content & contests. 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. Microsoft has seven stores in Canada, which will all be closing. Sail: Outdoor retailer Sail said June 4 that it will close four stores in Quebec and two in Ontario, leaving it with a total of 12 outlets remaining open in the two provinces. According to the company’s website, there are four Ann Taylor, nine Loft and 37 Justice stores in Canada. 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. There will 10 stores across Canada in total, and Canadians can expect retail operations to cease at the end of May 2020. CTVNews.ca Writer, Ryan Flanagan Not only did the store sell its own Pink Tartan fashion pieces, but it also offered vintage luxury designer products as well. CTVNews.ca Writer. Listen and subscribe to get a daily fix on the latest political news and issues. The electronics brand attributed the closures to a “dramatic shift to online shopping in specific markets.”. 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. 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. Victoria’s Secret has been on the decline for years. A list of the biggest companies that have filed for bankruptcy during the coronavirus pandemic, ranked by assets. The company has since filed for creditor protection. filed for Creditor Protection in September. It’s said that this is part of the brand’s strategy to adapt and grow its online presence. Stage … Since stores have been temporarily closed due to the COVID-19 pandemic, L Brands noted that its first-quarter sales fell 37% to $1.65 billion from $2.63 billion a year ago. Ascena Retail Group, the owner of Ann Taylor, officially filed for Chapter 11 bankruptcy in July. After first opening in Canada in 2015 at Square One in Mississauga, NYX Cosmetics is officially closing all of its Canadians shops. For the 12 months ending February 1, 2020, Aldo lost $74.8 million in Canada and $52.8 million in the United States. However, such measures will have minimal impact on online retailers. “We believe that this is the only course of action to ensure we remain successful in the future.”. The brand has not announced how many of the stores are going to be closed yet. 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. Things Engraved: On Jan. 14, the head of Kitchener, Ont.-based retailer Things Engraved announced plans to shut all of its 73 stores. Pier 1 Imports. Number of stores: 738. Here is a look at some of the major retail closures announced in Canada in 2020, both before and during the pandemic. Posted: Jun 04, 2020 7:46 AM ET | Last Updated: June 4, 2020 Sail has 14 stores across Canada, including this one in Brossard, Que. Although the brand enjoyed popularity in the 90s and early 2000s, they were allegedly unable to keep up with changing fashion and retail trends. Scholar’s Choice also filed for creditor protection through a notice of intention to propose a reorganization plan to restructure the company. La Senza will also be closing stores in Canada. Starbucks: Filings with U.S. regulators dated June 10 show that Starbucks plans to close 200 Canadian locations as part of a new two-year business plan. Bankruptcies in Canada decreased to 165 Companies in November from 178 Companies in October of 2020. Carlton Cards and Papyrus: On Jan. 22, the owner of greeting card retailers including Carlton Cards and Papyrus announced it was closing all of its stores in North America, including 76 Canadian locations. Montreal-based Bestseller Canada, which operates Jack & Jones and Vero Moda branded stores filed on Tuesday afternoon. Ascena, which was in … Unfortunately, the Gap flagship plans to close in January 2021. With a shift in the market towards body positivity, controversial comments, and increasing competition in the lingerie space, the brand has struggled to appeal to its once-loyal customer base. 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. The Gap has officially announced that its Canadian flagship in Toronto will be permanently closing in January 2021. Following the 2008/2009 recession, major retail bankruptcies reached historic highs in 2010, setting the record with 48 filings. The iconic pink door shop, Pink Tartan has emptied its 3,500 square-foot store and closing its doors at the Yorkville flagship. L Brands will be closing 250 Victoria’s Secret stores across North America. The popular coffee chain plans to close 200 stores across Canada over the span of the next two years. Although the footwear retailer said it will gradually reopen its stores as public health guidelines permit, legal filings reportedly state that an unspecified number of stores are not expected to ever reopen. Overall, while there was a decline in bankruptcies and proposal proceedings under the Bankruptcy and Insolvency Act (" BIA "), 2020 saw an increase in larger, more complex restructurings under the Companies' Creditors Arrangement Act (the " CCAA "), with 60 CCAA filings nationwide in 2020, far surpassing the 38 CCAA filings in 2019. 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. 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. While J.Crew has filed for Chapter 11 Bankruptcy, its online operations will remain open throughout the restructuring. In January 2020, Bose announced that it would be shuttering all 119 locations across North America, Europe, Japan, and Australia. Bose: U.S.-based audio equipment retailer Bose will shutter its 24 remaining Canadian stores as part of the chain’s closure of 119 locations around the world, according to online publication Retail Insider reported in early January. 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. Unfortunately, the Yorkville space is following in the footsteps of the Pink Tartan Bayview Village location that closed several months ago. With that being said, you can still shop the brand through its online store. With the added hardships of COVID-19 on retailers, we’re seeing more shutter for good. Only four locations in London, New York City, Sydney, and Redmond, Wash. will remain as “reimagined” physical spaces. 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. 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. The retailer announced that it would “reduce its store footprint by up to 450 locations” in North America in order to lower its expenses and to “better align its business with the current operating environment.” And just a month after the original statement, the retailer announced that all 67 Canadian Pier 1 stores will be closing. The Canadian retail sector was already in trouble before COVID-19, but the pandemic has left it on even shakier ground. At the time of the announcement, there were no confirmed number of store closings. Here is a closer look at the major retail bankruptcies of 2020 so far. Carlton Cards & Papyrus will be closing all North American locations, totalling 78 Canadian locations and 178 locations in the U.S. With that being said, the closures aren’t all bad news — Carlton Cards and Papyrus will still be available at retail locations like Indigo, Sobey’s, and more. Be the first to find out about the warehouse sales, sample sales, and pop-up sales that StyleDemocracy hosts. January saw many store closures in 2020. Groupe Dynamite, the Montreal-based company that owns Dynamite and Garage, filed for Creditor Protection in September. The popular tea store announced that it’s planning to close 166 of its locations across Canada and 42 locations across the U.S. Fortunately, tea lovers will still be able to shop at 18 Canadian locations in British Columbia, Alberta, Manitoba, Ontario, Quebec, and New Brunswick, as well as online. 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. The closures will affect 34 underperforming Lowe’s and Rona stores, with all listed stores expected to close by the end of February 2020. Le Château: After 60 years in … 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 had already shuttered a handful of its brick and mortars earlier this year, and now the remaining 10 have fallen victim to the closing. More U.S. retail companies sought bankruptcy protection in the first half of 2020 than in any other comparable period. Ascena Retail (Lane Bryant, Ann Taylor) Founded: 1962 (as DressBarn) Filed for bankruptcy: July … And while L Brands saw a bit of a boost in Victoria’s Secret’s e-commerce sales, it’s not enough to justify keeping stores open. Global News reports that Lucky brand will close 13 of the 200 stores it operates, but that number could go up. The Toronto-based and family-owned company also runs M Boutique, which will likely be closing as well. Like what you’re reading? Pier 1 (NYSE: PIR), the ailing home goods retailer, said earlier this year that it … Noah's Event Venue, a chain offering spaces for various gatherings, technically filed for bankruptcy … In June, Addition Elle and Thyme Maternity announced that stores will permanently close in Canada. 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. 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. On a positive note, the company launched an online shopping platform, which did not exist before COVID-19. Notably, Ascena also owns Lane Bryant, LOFT, Lou & Grey, and Justice. ET First Published: Dec. 16, 2020 … Here is a look at some of the major retail closures announced in Canada in 2020, both before and during the pandemic. 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 … L.A. based denim company Lucky Brand has filed for Chapter 11 bankruptcy. It said it was also filing for Chapter 15 bankruptcy in the U.S. Another Canadian retailer Mendocino is closing its stores for good, as reported in July. In January 2020, the retailer announced that it planned on closing all five of its Canadian locations. 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. The company operated 400 stores in eight countries, with most of its locations in Canada. A check-in on the public mood of Canadians with hosts Michael Stittle and Nik Nanos. Ann Taylor, Loft and Justice:  The parent company of these brands, New Jersey-based Ascena Retail Group Inc., announced on July 24 that it will close all of its clothing stores in Canada. Ten Thousand Villages: On Jan. 21, fair-trade retailer Ten Thousand Villages announced its plans to shutter many of its stores. While four locations across the world will stay open as they are reimagined, the tech company will be primarily operating online. The parent company of Brio and Bravo restaurants filed for Chapter 11 bankruptcy in April and permanently shuttered 48 out of nearly 100 locations. The company has not confirmed which locations will be closing. What type of emails would you like to receive? The Complex reports that the company’s plan … Measures to contain the coronavirus will sharply impact domestic retailers and retail REITs, as will the ensuing recession. And the retail apocalypse has already claimed many victims in 2020. During the pandemic, Gap announced that many of its stores would not reopen as temporary store closures lift. Luckily, you can still shop the brands pieces online or at the Niagara Outlet Collection. 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. Ascena Retail Group: The owner of Ann Taylor, LOFT, Lane Bryant and other women's clothng stores also filed for bankruptcy. Hudson’s Bay has found itself in trouble as the retailer continues to close stores around the country. Such is the current life for McGrail and others in the retail bankruptcy and restructuring fields. The company was founded 32 years ago by CEO Tony Aronson and his father. Retail bankruptcies may hit a painful high-water mark in 2020.Multiple analysts have noted filings are likely to reach their highest number in a … According to Insolvency Insider, Cranbrook Glen Enterprises Ltd., the company that operates camera and accessories retailer Henry’s, intends to shutter close to a third of its stores. © Copyright STYLEDEMOCRACY 2017- 2021. Bankruptcy filings this year have already surpassed what we saw in … Just last year, we said goodbye to household names like Home Outfitters and Payless to name a couple. Victoria's Secret and Bath & Body Works: L Brands announced May 20 that it will close 13 of the 38 Victoria's Secret stores in Canada, as well as one Bath & Body Works location, as part of a larger restructuring that also affects the company's American operations. According To An Insolvency Notice, The company is said to be closing “all or substantially all” of its stores. Listen and subscribe to get a weekly update with the newsmakers who matter. At the end of January 2020, Freemark Apparel Brands, the company that has the rights to sell Bench merchandise in Canada, announced that it would be closing all of its Bench stores to focus on e-commerce and wholesale clients. 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. Stay in the know and get updates on retail news, contests, fashion, style, and more straight to your inbox. Prior to the pandemic-related closures in March, Swimco had 25 locations in Ontario and Western Canada, according to a court filing. Unfortunately, two Hudson’s Bay locations were temporarily shut down by landlords, one in Vancouver, and one in Toronto at Centrepoint Mall. In fact, their popularity will soar because of consumers being able to comply with restrictions on movement while shopping from the comfort of their homes. 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. 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. The company said it plans to close seven of its 29 store locations once COVID-19-related measures were loosened. Get details about StyleDemocracy hosted events, as well as sales hosted by our trusted partners. Chuck E. Cheese’s – Secret Pizza Selling Flopped. Only three stores will remain open – London, Ont., Winnipeg and Moncton – and act as regional sales and distribution centres. The closures are expected to affect all Canadian Bench locations, but the iconic U.K.-based brand will still be available in retailers like Hudson’s Bay, WINNERS, and more. After 74 years in business, fair trade retailer Ten Thousand Villages announced that it would be shuttering its Canadian operations, including its web store and the majority of its physical retail locations. Army & Navy: The 101-year-old Western Canadian department store chain announced in May that it was closing its doors permanently. Surprisingly, Muji U.S.A. filed for Chapter 11 bankruptcy this year. In an email sent to customers, the company said its gourmet candies will continue to be offered online and through its partners. 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. As of yet, no store closures have been announced. Over the past few years, Canada has seen some many once-beloved stores shutter locations or shut down business for good. Here's the full list. and has 19 stores across Canada in addition to one in the U.K. Mendocino: The Toronto-based women's wear brand announced July 21 that it has filed for insolvency and plans to close its 28 stores across the Greater Toronto Area to focus on online orders as part of its restructuring. Squish opened its first store in 2014 in Laval, Que. In October, the iconic department store faced lawsuits over $3.5 million in unpaid rent from the landlords of five locations in Quebec. However, Starbucks is also testing new pickup-only locations that you may see pop-up around your neighbourhood. Jewelry store Thomas Sabo is known for its cute charm bracelets. 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). "We regret the impact this will have on our people and can assure you that we explored all options available to us prior to taking this difficult decision," the company said. The combination of forced closures, decreased consumer spending and limited rent relief measures has left some retailers unable to maintain their existing operations. Fitch and S&P just downgraded credit ratings for 11 major retail brands with the coronavirus outbreak causing massive retail closures. Retailers and other consumer-centric companies have been hit hard by the coronavirus pandemic. The company indicated it would close some stores, but did not specify how many. 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. Then sign up to become an SDInsider. Henry’s, otherwise known as “Canada’s greatest camera store,” filed a Notice of Intention to Make a Proposal (NOI) pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act in May 2020. retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. Ann Taylor parent company Ascena Retail Group filed for Chapter 11 bankruptcy protection in July 2020, stating it planned to permanently close a "significant" number of Justice stores, along with certain Ann Taylor, Loft, Lane Bryant and Lou & Grey stores, and to permanently close all of its stores in Canada, Puerto Rico and Mexico. 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