Frank And Oak to close 9 stores across Ontario, Quebec and B.C.

The Canadian Press

· Posted: Apr 10, 2025 1:03 PM EDT | Last Updated: 7 minutes ago

Apparel retailer Frank And Oak says it is closing 9 stores crossed Quebec, Ontario and British Columbia by May 7.

Court documents amusement the Montreal-based institution has 150 employees, but erstwhile asked astir however galore volition suffer their occupation arsenic a effect of the closures, spokesperson Elisabeth de Gramont said she did not yet person that information.

Once the liquidation begins, each income volition beryllium final, but the retailer's e-commerce concern volition proceed to operate, she said.

The determination comes aft Frank And Oak filed for creditor extortion successful December.

De Gramont attributed the closures to the ineligible process Frank And Oak began successful December, erstwhile it filed a announcement of intention, which helps companies restructure and debar bankruptcy portion providing creditors with immoderate compensation.

WATCH | Retailer Frank And Oak $70M successful indebtedness and filing for creditor extortion — again:

As portion of that process, Frank And Oak has said it is facing fiscal difficulties due to the fact that COVID-19 weighed connected the profitability of caller stores, and supply-chain issues, including the struggle successful Gaza, delayed shipments of inventory.

The retailer began searching for an capitalist oregon purchaser successful mid-January. Court filings accidental the institution saw "robust" involvement from imaginable suitors successful the archetypal signifier of the process, but it has yet to denote immoderate palmy bidders.