With years like last, it’s hard to deny that a retail apocalypse is happening. 2018 was not the greatest time for some of our once-favourite stores.
The year saw many major names in retailers file for bankruptcy or close down locations, leaving many Canadian shoppers in shock.
From long-standing retailers with deep rooted history in Canada, to American imports that Canadian shoppers once got excited about, below you’ll find the retailers who closed locations and went out of business in 2018.
Retailers That Went Out Of Business
Town Shoes
DSW announced it would be shuttering Town Shoes stores in the summer of 2018. After 66-years in business, Town Shoes will see its remaining stores close by the end of its fiscal year in January 2019. While DSW, who acquired Town Shoes in 2014, is saying goodbye to the iconic mall retailer, they will continue to operate DSW stores and its sneaker concept store, GRAIL.
Jean Machine
Instagram/@stoneroadmall
The changing retail landscape claimed another victim in the fall of 2018. During the past few years, the memorable Canadian mall retailer saw many ups and downs. Jean Machine sought bankruptcy protection early in 2017 and was acquired later in the year by Pacific West Commercial Corporation. However, the company was unable to bounce back. After 40 years in business, Jean Machine announced that they would officially shut down by January 2019.
Bombay Company and Bowring Brothers
As reported, home decor chains Bombay Company and Bowring Brothers filed for creditor protection earlier this year. Bowring, which was founded in St. John’s by clockmaker Benjamin Bowring in 1811, has been trouble for a little while. According to CTV News, back in 2014, the chains were placed under court protection from creditors and given time to develop a new business plan. But over the years, the houseware retailers were unable to pull themselves out of the slump.
Retailers That Closed Locations
Rockport
Instagram/@rockport
Footwear retailers couldn’t catch a break in 2018. Rockport filed for bankruptcy protection the the late spring of 2018. All of the brand’s namesake stores closed in July 2018. However, according to the Rockport website, there are still a number of retailers across North America that stock the brand, including Moores and Hudson’s Bay. At this point, the future of the company is uncertain, but they have hired a new President and plan on improving products and marketing efforts for 2019.
Gap
Twitter/@CoresightNews
Gap Inc. as a whole may not be struggling, but signs show that its namesake brand is. Near the end of 2018, the brand told analysts that it would be closing hundreds of stores across the globe. And this isn’t the first time the brand has done massive closures — back in 2015, Gap closed 175 stores across North America. But while Gap struggles to find brand loyalty and a captivated audience, Old Navy, also owned by Gap Inc., continues to flourish.
Lowe’s
Instagram/@marysataylor
The fall seemed to be a rough time for a lot of retailers, including home improvement chain Lowe’s. In 2018, the retailer announced that it would be closing 31 stores in Canada and 20 in the United States. The closures, which are scheduled to be completed by February 2019, affect underperforming stores across North America. Lowe’s hopes to improve the help of its portfolio by focusing on its more profitable stores.
J.Crew
Instagram/@saradoucet
Another struggling mid-luxury retailer is J.Crew. The American retailer launched in Canada back in 2011 with much anticipation, however, it seems like the excitement for the brand is over. J.Crew has been slowly closing Canadian stores — such as CF Chinook Centre, CF Markville, and CF Fairview — and it’s not a good sign for the brand. According to analysts, J.Crew has been on a decline since the departure of Mickey Drexler, the company’s former CEO, and could be on its way out.
Nine West
Instagram/@offersunderthesun
After scraping by for that past few years, the 35-year-old footwear and handbag retailer called it quits in April of 2018. Analysts attributed the company’s downfall to rising online competition, as well as the increased competition of mid-priced footwear retailers. The good news for Nine West fans, however, is that there’s still a chance you might see the brand around. While stores are closed, Authentic Brands Group acquired Nine West and Bandolino and will be expanding offerings into sportswear, outerwear, swimwear, intimates, fragrance, sleepwear, and home.
Crabtree & Evelyn
Instagram/@courtzemke
The Canadian operations for the Crabtree & Evelyn filed for creditor protection in November. The retailer has quietly been exiting malls for years. According to The Straits Times, the bath and body retailer is moving its business fully online aside from a location in London, England.
Featured image: Instagram/@artinthefind
Throughout the years, the Canadian retail landscape has seen its fair share of ups and downs.
From major launches and comebacks, to the closures of longstanding, heritage brands, 2018 saw many impactful events that reshaped how Canadians shop. Take a peek at some of the most important stories from this year below.
1. Toys “R” Us Is Closing U.S Stores — Can Canadian Stores Survive?
All of your favourite childhood stores have been slowly closing. Toys “R” Us announced on Wednesday that is will close 180 stores in the United States. According to the Toronto Star, while the president for Canadian Operations reassured customers that its business as usual in Canada, many insiders believe that Toys “R” Us won’t last. Continue reading.
2. Management At Pacific Mall “Deeply Disturbed” To Learn Counterfeit Goods Are Being Sold
Instagram/@paul_sherwood_
News broke that Pacific Mall in Markham, Ontario is one of the biggest offending retail locations when it comes to the distribution of counterfeit goods in North America. In a press release from the mall, management said they were “deeply disturbed and disappointed” by the news. Continue reading.
3. Once-Popular Brand Mexx Is Set To Make A Canadian Comeback
Instagram/@mexxofficial
The Dutch fashion brand will be re-launching in Canada and is looking to recapture what they once had in the Canadian retail landscape. At one point, Mexx stores were located in almost every major Canadian mall and operated more than 100 stores nationally. Continue reading.
4. It’s Official: Toys “R” Us Has Been Saved By A Canadian Company
Instagram/@gothgirlgonemom
Toys “R” Us Canada is currently reassuring consumers that although the American Toys “R” Us brand is pretty much all closed up, the Canadian arm, now owned by a Canadian company, is looking to recapture consumers and the brand is back in full-force. Continue reading.
5. Nine West Officially Declares Bankruptcy
Instagram/@offersunderthesun
Reuters is reporting that U.S. footwear and apparel company Nine West Holdings Inc filed for bankruptcy on Friday last week. The brand announced that it would sell off its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. Continue reading.
6. The Largest Asian Shopping Centre Will Be In Markham
Move on over Pacific Mall, there’s a new king in town and it’s already being coined “Canada’s largest Asian shopping centre.” The mall called King Square Shopping Centre is located at 9390 Woodbine Ave in Markham. Continue reading.
7. Nordstrom Rack Is Open On Bloor
The flagship is located at One Bloor, and has the biggest selection of on-trend clothing, footwear, and accessories for men, women, and kids. Its floor to ceilings windows make it a bright and extremely pleasant shopping experience. Continue reading.
8. DSW to Shutter Canadian Footwear Chain Town Shoes
Iconic Canadian footwear chain Town Shoes is set to be closed down after a stellar 66 years in business. Town Shoes currently operates 38 stores across Canada, and according to industry insiders, this may cause problems for mall landlords as another departing chain will cause significant vacancies in malls across the country. Continue reading.
9. Canadians Will Now Be Able To Buy More From The U.S. — Duty Free Limit Raised from $20 to $150
Instagram/@polina_kennedy
The new U.S.-Mexico-Canada Agreement will actually benefit Canadian shoppers that enjoy cross-border shopping or ordering from American online sites. One of the interesting aspects of the new agreement will increase the de minimis threshold for duty-free shopping. Continue reading.
10. American Apparel Is Back In Business With A Focus On Inclusivity
Instagram/@americanapparel
It was a sad day back in early 2017, when iconic fashion brand American Apparel went bankrupt and announced it would shut down its stores. But hot on the heels of a successful relaunch south of the border, the brand announced its plans for international e-commerce expansion earlier this year, setting its sights on Canada. Continue reading.
11. Bombay Company And Bowring Brothers Collapse In Debt
We’re sad to be saying farewell to Bowring Brothers and the Bombay Company, along with all their fantastic sales. Apparently, the home decor chains in Canada will be moving into liquidation mode after their Brampton-based parent company filed for creditor protection. Continue reading.
12. Gap Plans To Close Down Hundreds Of Flagship Stores
Twitter/@CoresightNews
Gap Inc. is struggling with its flagship company, as it continues the fight to stay on top. The brand told analysts that it will soon be shuttering hundreds of its global Gap stores. Right now, the company is seeing 20% of sales and growing online, and 30% in its most profitable outlet stores, while the remaining flagship stores are bringing down profits. Continue reading.
13. Aritzia Opens Its First North American Outlet Store
Facebook/Toronto Premium Outlets
As part of the Toronto Premium Outlets expansion, Aritzia launched a new outlet store — it’s the first of its kind in North America, and the store is joining 130 other outlets in 500,00-square-feet of outdoor shopping space. Continue reading.
14. Miniso Has Filed An Application For Bankruptcy
Twitter/@joannachiu
In the height of Canada’s love for Japanese retailers, it seems like not all retailers are performing as well as they seem to be. Miniso Canada’s parent company Miniso International Hong Kong Ltd. and Miniso International (Guangzhou) Co. Ltd. have allegedly filed an Application for Bankruptcy Order in the Supreme Court of British Columbia.
15. Inside Toronto’s New Japanese Lifestyle Store Where Everything Is Under $12
Oomomo opened their doors at Don Mills and Lawrence earlier this month. The store is the second in Canada, while the first opened in Edmonton, Alberta just last year. Despite only being on the market for a short period, Oomomo has seen massive success. Continue reading.
As you know, many retailers filed for bankruptcy at a record rate and the trend continues. According to Retail Dive, by December 2017 we saw 26 major retail bankruptcies (defined in this case as companies with more than $50 million in liabilities). That surpassed the 20 bankruptcies posted in 2008 when a major recession ravaged the sector. Take a look at the retailers that have filed plans to restructure, find a buyer or liquidate through Ch. 11.
Disclaimer: MANY of these only affect the retail in the United States.
1. Nine West
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2. Claire’s
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3. The Walking Company
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4. KIKO Milano
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6. A’gaci
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7. Sears
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Source: Retail Dive
It looks like Nine West is closing down all their stores which always means DEALS ON DEALS! As we already reported, Nine West has filed for bankruptcy but now we’re finally getting news on some insane clearance deals happening right now.
All shoes are on clearance for 50% to 70% off plus an addition 20% off. We’ve been told you can find these sales at Fairview Mall, Yorkdale, Vaughan Mills and all other locations. Don’t miss it – online and instore.
Featured Image: Instagram/@ninewestcanada
Reuters is reporting that U.S. footwear and apparel company Nine West Holdings Inc filed for bankruptcy on Friday last week. The brand announced that it would sell off its Nine West and Bandolino footwear and handbag business to Authentic Brands Group.
Nine West missed their debt interest payment due in March, and with the latest declaration of bankruptcy, Nine West now plans on focus on its apparel, jewellery and denim business. With a company debt of around $1.5 billion USD, it will be interesting to see if the brand will have to officially close down stores.
There has been very little information released about the bankruptcy, but we will keep you posted as this story develops.
According to Bloomberg News, apparel retailer Nine West Holding is on the verge of filing for bankruptcy in an effort to restructure more than $1 billion of debt and to sell off underperforming assets.
You may remember that Nine West’s Canadian division closed down, and the assets were transferred back to the American holding company.
Nine Wess is in trouble due to stiff competition from fast-fashion brands like Zara and H&M, and changing consumer habits. While filing for bankruptcy does not mean stores will close, in the days of retail struggles we’ve seen countless brands file for bankruptcy and then closed their doors when then restructuring process failed.
Amazon has proven themselves a force to be reckoned with. They’ve championed the e-commerce world, selling pretty much everything to everyone everywhere, and now, they’re slowly taking over the fashion spectrum. First order of business? The wonderful world of handbags.
Just in time for spring, Amazon.ca has announced that they now carry Canada’s largest selection of handbags. Featuring brands like Marc Jacobs, Nine West, Steve Madden, Rebecca Minkoff and more, you want it, they’ve got it. And with so many labels and styles to choose from, Amazon.ca’s search capabilities are able to track down exactly what you’re looking for, no matter how specific or big your budget.
Not only do you have (almost) all of your options in one spot, but if you’re a Prime member, you’ll get fast (hello, one day shipping!), free and super convenient delivery options. And like all Amazon.ca orders, if you’re unhappy with your purchase, you’ll get free return as well.
Will you shop Canada’s largest selection of handbags on Amazon.ca?
Featured Image: Instagram/@RebeccaMinkoff
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