Army & Navy: The 101-year-old Western Canadian department store chain announced in May that it was closing its doors permanently. filed for Creditor Protection in September. Since the start of 2020, 10 retailers in Canada have either announced store closures or sought bankruptcy protection. Links of London: Luxury brand Links of London had planned a major Canadian expansion as recently as 2016, but only ever opened five stores in the country and announced Jan. 10 that all stores will be closed, according to Retail Insider. Bench: The owner of apparel store Bench's Canadian operations confirmed to BNN Bloomberg on Jan. 22 that all 24 locations will be closed. Ronsons: The Vancouver-based shoe retailer announced on April 8 that it was in receivership and closing its 18 stores, all of which are located in British Columbia. Here is a closer look at the major retail bankruptcies of 2020 so far. For the 12 months ending February 1, 2020, Aldo lost $74.8 million in Canada and $52.8 million in the United States. Fitch and S&P just downgraded credit ratings for 11 major retail brands with the coronavirus outbreak causing massive retail closures. 15 Canadian Home Decor Stores You Can Shop Online, 60+ Canadian Shopping Websites To Have On Your Radar, The Running List Of Retail Store Closures And Bankruptcies In 2021, 15 Awesome Sales To Shop This Weekend: OAK+FORT, SSENSE, Ardene, Club Monaco & More, 15+ Sales To Shop This Weekend: Aerie, Nordstrom Rack, SSENSE, Coach & More, 10 Of The Best Places To Shop If You Love H&M, The 21 Best Canadian Online Stores for Sneakers, announced that it would be shuttering stores across Canada, retailer announced that all 67 Canadian Pier 1 stores will be closing, Carlton Cards & Papyrus will be closing all North American locations, announced that it would be closing all of its Bench stores, Gap announced that many of its stores would not reopen, Muji U.S.A. filed for Chapter 11 bankruptcy. Photo: Getty Images/Andrew … Sadly, the brand has decided that it will be closing all of its stores in Canada. Use of this Website assumes acceptance of Terms & Conditions and Privacy Policy, Published Sunday, June 14, 2020 2:47PM EDT, Last Updated Friday, October 23, 2020 4:44PM EDT, Follow CTV News Channel for ongoing breaking news, filed for insolvency and plans to close its 28 stores. At the beginning of the year, a third-quarter fiscal report for Pier 1 Imports revealed that overall sales were down at the home retailer. Touted as the country’s first discount department store, the company said it would be closing its five remaining locations in Vancouver, New Westminster, B.C., Langley, B.C., Calgary and Edmonton. The closures are part of Ascena’s Chapter 11 bankruptcy proceedings in the U.S. and restructuring plans in the wake of the pandemic. With a shift in the market towards body positivity, controversial comments, and increasing competition in the lingerie space, the brand has struggled to appeal to its once-loyal customer base. Measures to contain the coronavirus will sharply impact domestic retailers and retail REITs, as will the ensuing recession. Just last year, we said goodbye to household names like Home Outfitters and Payless to name a couple. Stay in the know and get updates on retail news, contests, fashion, style, and more straight to your inbox. The company, which has been operating since 1987, filed a notice of intention on July 14 to make a proposal under Canadian bankruptcy law. The brand has not announced how many of the stores are going to be closed yet. After 74 years in business, fair trade retailer Ten Thousand Villages announced that it would be shuttering its Canadian operations, including its web store and the majority of its physical retail locations. Visit us for updates on the very best shopping events and news on all things fashion, beauty, retail, and lifestyle. This news follows the announcement that the Gap flagship in Chicago will also be closing in January 2021. Retail Carnage Deepens as Pandemic’s Impact Exceeds Forecasts Chapter 11 filings by major retailers in 2020 have already surpassed last year’s total and show no sign of letting up The company said it plans to close seven of its 29 store locations once COVID-19-related measures were loosened. Garage, Dynamite: Montreal-based Groupe Dynamite, Inc. filed for creditor protection in September under the Companies’ Creditors Arrangement Act (CCAA) and will restructure its business, becoming the latest retailer crippled by the economic fallout of the pandemic.The company behind the Garage and Dynamite store brands said COVID-19 caused an “unsustainable strain” on the business, which includes more than 300 North American stores -- 85 of them located in the United States. Although the brand enjoyed popularity in the 90s and early 2000s, they were allegedly unable to keep up with changing fashion and retail trends. The retailer announced that it would “reduce its store footprint by up to 450 locations” in North America in order to lower its expenses and to “better align its business with the current operating environment.” And just a month after the original statement, the retailer announced that all 67 Canadian Pier 1 stores will be closing. Global News reports that Lucky brand will close 13 of the 200 stores it operates, but that number could go up. TORONTO -- The brand had already shuttered a handful of its brick and mortars earlier this year, and now the remaining 10 have fallen victim to the closing. Thyme Maternity and Addition Elle: Financial woes at Reitmans left the company seeking creditor protection and announcing plans to close all stores under its Thyme Maternity and Addition Elle banners, as was announced June 1. Bestseller Canada: The company that operates Jack & Jones and Vero Moda filed for creditor protection June 2. Surprisingly, Muji U.S.A. filed for Chapter 11 bankruptcy this year. The store which resides at 60 Bloor Street West has been in that same location for over 30 years now. In an email sent to customers, the company said its gourmet candies will continue to be offered online and through its partners. Pier 1:  Home decor chain Pier 1 announced Feb. 17 that it will close all of its stores in Canada, as the retailer began bankruptcy proceedings in the United States. Things Engraved: On Jan. 14, the head of Kitchener, Ont.-based retailer Things Engraved announced plans to shut all of its 73 stores. During the pandemic, Gap announced that many of its stores would not reopen as temporary store closures lift. That’s why we throw the biggest shopping events across North America and bring you all the latest news in fashion, retail, and shopping. Sail: Outdoor retailer Sail said June 4 that it will close four stores in Quebec and two in Ontario, leaving it with a total of 12 outlets remaining open in the two provinces. Listen and subscribe to get a daily fix on the latest political news and issues. Then sign up to become an SDInsider. While J.Crew has filed for Chapter 11 Bankruptcy, its online operations will remain open throughout the restructuring. retailers have filed for bankruptcy in 2020 so far: Select a retailer to learn more about their bankruptcy. Founded: 1988. Montreal-based Bestseller Canada, which operates Jack & Jones and Vero Moda branded stores filed on Tuesday afternoon. "We regret the impact this will have on our people and can assure you that we explored all options available to us prior to taking this difficult decision," the company said. Microsoft: The technology company revealed on June 26 that it would be closing nearly all of its 83 physical stores around the world as part of a “strategic change” for its retail business. CEO Shawn Black told CTVNews.ca the company had been unprofitable for several years. The iconic pink door shop, Pink Tartan has emptied its 3,500 square-foot store and closing its doors at the Yorkville flagship. Note: This article will be updated as more stores and brands announce filings and closures. Bankruptcies in Canada averaged 362.22 Companies from 2004 until 2020, reaching an all time high of 872 Companies in March of 2004 and a record low of 108 Companies in April of 2020. In January 2020, the retailer announced that it planned on closing all five of its Canadian locations. Scholar’s Choice: The educational toys and teaching materials retailer announced on July 10 it was closing 13 stores across the country. Carlton Cards & Papyrus will be closing all North American locations, totalling 78 Canadian locations and 178 locations in the U.S. With that being said, the closures aren’t all bad news — Carlton Cards and Papyrus will still be available at retail locations like Indigo, Sobey’s, and more. However, Starbucks is also testing new pickup-only locations that you may see pop-up around your neighbourhood. Not only did the store sell its own Pink Tartan fashion pieces, but it also offered vintage luxury designer products as well. The electronics brand attributed the closures to a “dramatic shift to online shopping in specific markets.”. L.A. based denim company Lucky Brand has filed for Chapter 11 bankruptcy. With the temporary closure of all 30 Henry’s stores due to COVID-19, the retailer has seen a large impact on its sales. Another Canadian retailer Mendocino is closing its stores for good, as reported in July. While four locations across the world will stay open as they are reimagined, the tech company will be primarily operating online. The Complex reports that the company’s plan … At the end of January 2020, Freemark Apparel Brands, the company that has the rights to sell Bench merchandise in Canada, announced that it would be closing all of its Bench stores to focus on e-commerce and wholesale clients. In January 2020, Bose announced that it would be shuttering all 119 locations across North America, Europe, Japan, and Australia. Prior to the pandemic-related closures in March, Swimco had 25 locations in Ontario and Western Canada, according to a court filing. Chuck E. Cheese’s – Secret Pizza Selling Flopped. Henry’s, otherwise known as “Canada’s greatest camera store,” filed a Notice of Intention to Make a Proposal (NOI) pursuant to Section 50.4(1) of the Bankruptcy and Insolvency Act in May 2020. Although the footwear retailer said it will gradually reopen its stores as public health guidelines permit, legal filings reportedly state that an unspecified number of stores are not expected to ever reopen. Back in October 2019, once-popular jeweller Links Of London began liquidating its American and U.K. stores, which later foreshadowed what would happen in Canada. At the end of November 2019, home improvement chain Lowe’s Canada announced that it would be shuttering stores across Canada in order to improve overall performance. CEO Jacqui Cohen cited the “unsurmountable” challenges caused by the pandemic. As of yet, no store closures have been announced. 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