Home / Knowledge / News / Apparel/Garments / Canadian retailer Jacob enters into liquidation
Canadian retailer Jacob enters into liquidation
07
May '14
Canadian womenswear retailer Jacob has filed for bankruptcy and is planning to liquidate inventory in all the 92 stores across the country. 
 
The Montreal-based purveyor, which has been operational for more than 35 years, has filed for a notice of intention under the Bankruptcy and Insolvency Act of the Canadian Government.
 
In the coming weeks, the retailer, which suffered losses due to the competition from new international retail entrants and dwindling economic situations, will be closing all its stores.
 
In 2010, the company had filed for protection under the Companies’ Creditors Arrangement Act, which allowed the firm to stay afloat during financial restructuring period. However, the company could not bounce back or overcome the financial challenges despite the court-administered procedure. 
 
Started as a small family run business in the 1960s, Jacob currently employs more than 1,500 people across Canada. 
 

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 23rd Aug 2016

China to extend duty-free benefit to 17 Bangla products

China is planning to add 17 more products from Bangladesh, including...

Textiles | On 23rd Aug 2016

‘Low yields could make India a cotton importer’

In spite of the largest cotton acreage in India, the yields are very...

Apparel/Garments | On 23rd Aug 2016

China to dethrone US as world’s biggest retail market

“China will dethrone the current leader, the US to become the world’s ...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

Binoy Ravjani
Hero's Fashion

‘One of the recent trends in hand block printing is the indigo process,...

Awen Delaval
Samatoa

'Natural fibres are appreciated for traditional authenticity'

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search