The journey of the Montreal-based womenswear retailer Jacob has been long (and slightly confusing) since they originally announced their bankruptcy in May of 2014. They were given a second chance to restructure and obtain financing when their creditor protection was extended in August 2014, but abandoned their efforts in the fall of 2014. We thought that would be the last we saw of the retailer, who had been in business for 35 years however, it seems like they’ve finally found their footing!
According to CBC News, Jacob or Boutique Jacob will resume operations this year. The family owners of the womenswear retailer has plans to relaunch with five stores in Quebec and an online store, focusing on a smaller market. Cristelle Basmaji, daughter of the company founder, says there are no plans to add any more stores or reopen the 91 that were previously closed.
Are you happy that Jacob isn’t closing after all? Comment below!