Iconic Jean Machine to Close after over 40 Years in Business
Another famous Canadia retailer will be forced to close their doors as a changing retail landscape has claimed another victim. Jean Machine has announced that their rebranding and turnaround has been unsuccessful and the brand will close down the remaining 24 stores located in Ontario. The retailer will be officially closed as of January 2019.
If you are over the age of 25 it is very likely that you purchased a pair of jeans from Jean Machine. As a mall staple, the retailer catered to young and trendy Canadians looking to shop for the latest in denim styles.
According to our friends at Retail-Insider the essence of Jean Machine’s problem stemmed from their bankruptcy protection filing back in January 2017. At the time the retailer was in debt for an undisclosed amount to creditors. With a filing for bankruptcy, the brand was expected to restructure but pressures and consumer preferences for both the low-end denim makers like H&M and high-end luxury denim makers, Jean Machine was essentially squeezed out of the market.
To our valued customers – a very important message ? pic.twitter.com/ySqAjEWgox
— Jean Machine (@jeanmachine) November 1, 2018
Another sad day for retail in Canada.