Montreal based womenswear retailer, Boutique Jacob Inc., is being forced to abandon its restructuring efforts and will soon be closing all of its remaining stores in Canada. This comes after filing for bankruptcy in May, and failing to secure itself as a smaller chain after negations with stakeholders and financial institutions were unsuccessful.
The company has been liquidating inventory both online and in stores across the country. Customers can expect to receive 40% off regular price items, as well as 20% off sale items.
Jacob is not the only retailer to be hit by hard times. Reitmans, Le Chateau, Danier and Bikini Village have also reported a decrease in sales given the presence of international clothing chains on the market. This includes retailers Joe Fresh, H&M and Forever 21, that offer the latest trends at a more affordable cost to consumers.
Although we are sad to see Jacob go, be sure to take advantage of the store closing clearance. Let us know which items you picked up by tweeting us at @alphabetapie #LetsTalkPie.