A Smart Set store is shown in Laval, Que., Tuesday, Nov.25, 2014. Smart Set is among the retailers that have recently closed or are closing shop in Canada. THE CANADIAN PRESS/Ryan Remiorz
January 15, 2015 - 11:52 AM
TORONTO - A list of retailers that have recently closed or are closing shop in Canada:
Sony Corp.
- Japanese electronics company is closing all 14 retail stores in Canada over the next six to eight weeks
- Closures will result in 90 layoffs
- Currently has stores in Montreal, Ottawa, Quebec City, Vancouver, Toronto and Alberta
Mexx Canada
- Dutch-based retailer declared bankruptcy in December 2014
- Liquidating 95 stores in Canada by the end of February
- Mexx has 315 stores around the world
Smart Set
- Parent company Reitmans (TSX:RET.A) announced in November 2014 that it would close 107 Smart Set stores
- Will convert 76 locations into other banners, including Reitmans, Penningtons, Addition Elle, RW&Co. and Thyme Maternity
- Smart Set banner was created in 1945, with the first location opening in Ontario in 1970
- First Reitmans store opened in Montreal in 1926
Jacob
- Womens' retailer was founded in 1977 in Montreal
- Announced in October 2014 it would abandon restructuring efforts and close 92 stores across the country
- Company under creditor protection since November 2010
Holt Renfrew
- Lluxury retailer closing stores in Ottawa and Quebec City at the end of January 2015
- Will undertake a $300 million expansion in key markets such as Vancouver, Calgary, Edmonton, Toronto, and Montreal
Sears Canada
- In October 2014, parent company Sears Holding Corp. (NYSE:SHLD) announced it would sell most of its stake in the struggling Canadian unit to raise as much as US$380 million
- In January 2014, Sears Canada announced it was cutting 2,200 employees from its payroll. It had already laid off thousands of employees in 2013
- Sears Canada has sold leases to some of its most prominent locations, including its flagship location at the Toronto Eaton Centre
Zellers
- In 2011, parent company Hudson's Bay Co. (TSX:HBC) sold its leasing rights for its nearly 200 Zellers locations to U.S. retailer Target for $1.83 billion
News from © The Canadian Press, 2015