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 … Only three stores will remain open â London, Ont., Winnipeg and Moncton â and act as regional sales and distribution centres. 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 store which resides at 60 Bloor Street West has been in that same location for over 30 years now. Start receiving our newsletters ASAP, for the trending retail news you donât want to miss! Another Canadian retailer Mendocino is closing its stores for good, as reported in July. With the added hardships of COVID-19 on retailers, we’re seeing more shutter for good. And the retail apocalypse has already claimed many victims in 2020. Fitch and S&P just downgraded credit ratings for 11 major retail brands with the coronavirus outbreak causing massive retail closures. 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. The Complex reports that the company’s plan … âWe believe that this is the only course of action to ensure we remain successful in the future.â. Ascena Retail Group: The owner of Ann Taylor, LOFT, Lane Bryant and other women's clothng stores also filed for bankruptcy. Prior to the pandemic-related closures in March, Swimco had 25 locations in Ontario and Western Canada, according to a court filing. Solarina Ho Even though Muji said that this U.S. filing wonât affect its stores in Canada, only time will tell. The company operated 400 stores in eight countries, with most of its locations in Canada. In a press release, David Bensadoun, Chief Executive Officer of the company, said, âIt is no secret that the retail industry has experienced rapid and significant change over the last several years. The coronavirus is also wreaking havoc on … According to Insolvency Insider, Cranbrook Glen Enterprises Ltd., the company that operates camera and accessories retailer Henryâs, intends to shutter close to a third of its stores. L Brands will be closing 250 Victoriaâs Secret stores across North America. In May 2020, Reitmans filed for creditor protection. Bench: The owner of apparel store Bench's Canadian operations confirmed to BNN Bloomberg on Jan. 22 that all 24 locations will be closed. Bankruptcies in Canada decreased to 165 Companies in November from 178 Companies in October of 2020. Groupe Dynamite, the Montreal-based company that owns Dynamite and Garage, filed for Creditor Protection in September. TORONTO -- 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. 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. Bestseller Canada: The company that operates Jack & Jones and Vero Moda filed for creditor protection June 2. The closures are part of Ascenaâs Chapter 11 bankruptcy proceedings in the U.S. and restructuring plans in the wake of the pandemic. The company employs roughly 1,800 people. Here is a closer look at the major retail bankruptcies of 2020 so far. Surprisingly, Muji U.S.A. filed for Chapter 11 bankruptcy this year. 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. 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. By using our site, you agree to the. "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. 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. 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. Things Engraved: On Jan. 14, the head of Kitchener, Ont.-based retailer Things Engraved announced plans to shut all of its 73 stores. Following the 2008/2009 recession, major retail bankruptcies reached historic highs in 2010, setting the record with 48 filings. 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 … Iconic Montreal retailer Le Chateau filed for bankruptcy in October, after 60 years in business. Aldo: Montreal-based The Aldo Group said May 7 that it was entering creditor protection. The popular coffee chain plans to close 200 stores across Canada over the span of the next two years. While J.Crew has filed for Chapter 11 Bankruptcy, its online operations will remain open throughout the restructuring. As its parent company Regent plans to downsize the chain, La Senza will be closing 17 stores across the country. 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. 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. Bose: U.S.-based audio equipment retailer Bose will shutter its 24 remaining Canadian stores as part of the chainâs closure of 119 locations around the world, according to online publication Retail Insider reported in early January. Here's the full list. 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. Garage, Dynamite: Montreal-based Groupe Dynamite, Inc. filed for creditor protection in September under the Companiesâ 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 âunsustainable strainâ on the business, which includes more than 300 North American stores -- 85 of them located in the United States. It said it was also filing for Chapter 15 bankruptcy in the U.S. Scholarâs Choice: The educational toys and teaching materials retailer announced on July 10 it was closing 13 stores across the country. 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. 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