Syd Silver Closing Its Doors After 82 Years
Posted December 24, 2009 7:18 am.
This article is more than 5 years old.
It’s a name many men think of when they’re planning on heading down the aisle.
After 82 years in business, the nation’s largest tuxedo retailer, Syd Silver Formals, is going out of business, according to a published report.
A single shop at Yonge and College grew into a chain that includes 17 stores across Canada. The company has filed for bankruptcy, citing increased competition and the poor economy for its demise.
The company is reportedly $4.5 million in debt and nearly 100 people are going to lose their jobs.
Michael Silver has been running the company since 1978, when his father, Syd, passed away.
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