Jacob to close all stores across Canada
Posted May 6, 2014 10:01 pm.
This article is more than 5 years old.
It’s the end of the line for Canadian women’s clothing retailer Jacob.
The Montreal-based company, which has been in business for 35 years, announced on Tuesday it will be closing all of its 92 stores across the country.
Jacob filed for bankruptcy protection in November 2010.
“I would like to sincerely thank each employee and business partner that contributed to our success during these 35 wonderful years,” Joey Basmaji, president and founder of Boutique Jacob Inc. said in a statement. “I hope that the remaining Canadian retailers will get through these difficult economic times.”
The company will liquidate all of its merchandise in the coming weeks before officially closing its doors.
The challenging economy as well as the influx of international retailers is being blamed for the company’s insolvency.
Nordstroms and Saks are set to enter the Canadian retail market in the fall.
