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Jun 14, 2020 · 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 ...
- 29 Canadian Stores to Close
READ MORE: These retailers are closing Canadian locations in...
- 29 Canadian Stores to Close
- Darcy Matheson
- Le Château. In October, Montreal-based fashion brand Le Château announced it would liquidate assets and wind down operations at all of its 123 stores. With cancelled events and celebrations this year, demand for its holiday party and occasional wear absolutely tanked, and the retailer said it had “no other option” than liquidation.
- Mountain Equipment Co-op. After filing for creditor protection, MEC announced in September it was ending its 49-year run as a co-op by selling to a US private equity firm — after its already struggling finances were worsened by the pandemic.
- Aldo Group Inc. Citing too much pressure on businesses and cash flow during COVID, the Montreal-based shoe powerhouse filed for creditor protection in Canada in May.
- DavidsTea. This summer, the iconic tea chain announced it would shutter 80 retail locations in Canada as part of a restructuring that would see 124 store closures across the continent.
Nov 17, 2020 · January saw many store closures in 2020. 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.
Feb 20, 2020 · 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 September. At its ...
Feb 24, 2020 · On May 8, 2020, the Montreal-based footwear and accessory retailer Aldo was one of the first Canadian retailers to file for creditor protection as expenses mounted as a result of the pandemic. Founded in 1972, Aldo was operating 287 stores in Canada, 300 in the US and over 3000 locations in 100 countries and employing 8,000 people.
Apr 7, 2022 · Operating profit margins for retailers rose modestly, from 4.6% in 2019 to 4.9% in 2020. The cost of goods sold by store retailers decreased by 1.7% to $460.1 billion in 2020. The cost of goods sold represented roughly 73% of total operating revenue. Total operating expenses, including labour remuneration, shrank by 1.3% to $137.5 billion in 2020.
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Jan 5, 2021 · The summer of 2020 saw increased retail sales as the deemed ‘non-essential’ businesses remained open. Precautions were put into place and case counts remained low in many parts of the country. For a time, Canada was looked at as being a country that was successfully controlling the spread of COVID-19.
