Say it’s not true!
One of our faves, Mexx, the Dutch fashion chain that features great clothes at reasonable prices has filed for bankruptcy.
Mexx used to be a powerhouse in the Canadian market with 95 corporate owned stores in Canada and 315 worldwide.
Chief Creative Officer for the brand Julia Hansen said that deep discounting in the fashion sector in Canada was part of the reason for the bankruptcy.
Holiday shoppers can still enjoy merchandise in the stores as they are expected to remain open until Mexx has sold off the bulk of its merchandise.
Mexx was purchased by Liz Claiborne in 2001 and sold off 10 years later to U.S.–based private equity firm The Gores Group.