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

Apparel/Garments | On 30th Apr 2016

Britain keen on new ventures in textiles and garment

British High Commissioner to India Sir Dominic Asquith, has said that ...

Apparel/Garments | On 30th Apr 2016

‘India’s apparel sector needs to revisit policies’

Apparel Export Promotion Council (AEPC)’s Additional Secretary...

Textiles | On 30th Apr 2016

Bangladesh spinners wary of another gas price hike

Bangladeshi cotton spinners have expressed concern that they may lose ...

Interviews View All

Shawn Neville
Avery Dennison RBIS

What is on-garment branding? You claim that on-garment branding is...

Peter Manns
Coats Southern Africa

How is the market for sewing threads faring in South Africa and how will...

Bhumika and Shyamal Shodhan
Shyamal and Bhumika

How is the market for bespoke and designer clothing in India ? How is the...

Dr Geoff Collins
Lenzing Fibers (Hong Kong) Ltd

The Lenzing Group The Lenzing Group is an international group of...

Carlos Richer
Richer Investment

Mr. Carlos Richer is the Director of Richer Investment, Diaper Consulting...

Mr. Keith Hayward
Monadnock Nonwovens LLC

Born in England, an honors graduate in Chemistry at the University of York ...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


<%@ language="VBScript" %>
feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search