Earlier this year, we reported that the Quebec-based retailer, Groupe Bikini Village, had filed for bankruptcy protection. The news was especially disappointing as many Canadian retailers have recently shuttered and international retailers such as Target, Mexx and Sony have decided to pull out of Canada. Until now, the fate of the company had been up in the air as they needed an “investment, a strategic partner or outright sale of the company” to survive and it looks like they got their wish!
Boutique La Vie en Rose Inc., the largest Canadian lingerie and swimwear retailer, has announced that they will acquire Bikini Village. If all goes as planned, the acquisition will close at the end of March. La Vie en Rose has promised to continue to operate Bikini Village’s 48 stores and save 300 store jobs across Canada. “We are happy to preserve the continuity of the Bikini Village banner, to keep the ownership in Canada and most of all save the 300 store jobs in these difficult times for the industry,” François Roberge, President and CEO of Boutique La Vie en Rose Inc., said in a release.
Unlike the second chance given to Jacob, it looks like Bikini Village will take the opportunity to continue to grow. We are glad this Canadian company has been this chance!
Are you excited that La Vie en Rose will acquire Bikini Village?