Canadian Retailer Swimco Goes Bankrupt and Shuts Down After 45 Years
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The swimwear retailer had stores across the country and after failing to restructure, it became the latest business casualty of the pandemic.
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Mass Bankruptcies and Store Closures Expected in Canada by Early 2021: Experts
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Store closures and weaker consumer spending due to COVID-19 will see retail in Canada change substantially over the next six months.
Read MoreAll Ann Taylor, LOFT and Justice Stores Closing in Canada as US Parent Ascena Files
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More than 50 Ascena brand stores will close in Canada, adding to an already significant number of vacancies following COVID-19 closures.
Read MoreParent Companies for Jack & Jones, Bootlegger, Cleo, and Ricki's File for Bankruptcy Protection in Canada
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Bestseller Canada filed on Tuesday and Comark on Wednesday, both grappling with COVID-19 related store closures as well as a financial crisis due in part to outstanding rents.
Read MoreSporting Goods Retailers SAIL & Sportium File for Bankruptcy Protection
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The large-format retailers have succumbed to unprecedented competition as well as strained finances after weeks of stores closures due to COVID-19.
Read MoreReitmans Files for and Obtains Bankruptcy Protection
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The iconic Canadian retailer says that this was “the hardest decision we have had to make as an organization in our almost one hundred years of history.”
Read MoreRetail in Canada to Change Forever Amid Restructuring, Bankruptcies and Permanent Store Closings
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Retailers across the country are evaluating operations to determine if they can remain operational. Some retailers such as Army & Navy have already announced that they will close forever.
Read MoreSecond Wave of Retail Bankruptcies Expected in Canada Amid COVID-19 Pandemic: Expert
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It’s an inevitable consequence of the devastating economic impact of the coronavirus pandemic, though the future could be promising when retail adapts to a new world.
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