The Canadian retail sector has been having a rough go and COVID-19 has been the final nail in the coffin for many stores that will be closing in 2020:
Starbucks: Filings dated June 10 show that Starbucks plans to close 200 Canadian locations as part of a new two-year business plan.
The Children’s Place: Approximately 200 locations of child clothing store The Children’s Place will close this year and 100 more next year in Canada and the U.S., company executives said June 11.
Thyme Maternity and Addition Elle: Financial problems at Reitmans left the company seeking creditor protection and announcing plans to close all stores under its Thyme Maternity and Addition Elle banners, announced June 1.
Aldo: Montreal-based The Aldo Group said May 7 that it was entering creditor protection. Although the footwear retailer said it will gradually reopen its stores as public health guidelines permit, legal filings reportedly state that an unspecified number of stores are not expected to ever reopen.
Pier 1: Home decor chain Pier 1 announced Feb. 17 that it will close all of its stores in Canada, as the retailer began bankruptcy proceedings in the United States.
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 larger restructuring that also affects the company’s American operations.
Carlton Cards and Papyrus: On Jan. 22, the owner of greeting card retailers including Carlton Cards and Papyrus announced it was closing all of its stores in North America, including 76 Canadian locations.
Bench: The owner of apparel store Bench’s Canadian operations confirmed on Jan. 22 that all 24 locations will be closed.
Things Engraved: On Jan. 14, the head of Kitchener, Ont.-based retailer Things Engraved announced plans to shut all of its 73 stores.
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.
Ten Thousand Villages: On Jan. 21, fair-trade retailer Ten Thousand Villages announced its plans to close many of its stores.
Bose: U.S.-based audio equipment retailer Bose will shutter its 24 remaining Canadian stores as part of the chain’s closure of 119 locations around the world, according to online publication Retail Insider reported in early January.
Conclusion: The combination of forced closures, decreased consumer spending and limited rent relief measures has left some retailers unable to maintain their existing operations and we will see a huge shift in the retail landscape.
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