Additionally, these closures will come alongside 850 openings in the Americas, which will be located mostly in the US, giving way to approximately 50 net new stores in 2021. I believe what’s also important is the liquidity of real estate developers you can’t service debt without tenants. Hudson's Bay is now closing all of its locations across Canada due to the spread of COVID-19. At the same time, there are government supports which have helped keep businesses afloat at least for now. Victoria's Secret is closing 250 stores in shopping centers, malls and other locations in the U.S. and Canada. But depending on things like a second wave, we don’t know where that’s going to go. For many, the day of reckoning could come following the holiday season. La Senza will also be closing stores in Canada. It will be interesting to see what happens in the communities where a Walmart will be closing. We’re going to see more bankruptcy filings. Instead, the company said it will close up to 400 company-owned stores in the U.S. and Canada over the next 18 months, as it rolls out the new format stores and makes other changes. The brand helped create the “fast fashion” trend, but it wasn’t enough. JUNIOR, Toronto’s international children’s festival - postponed until 2021. Faced with stingy consumers, fading government subsidies and in some cases mounting deferred rent due, liabilities will exceed assets and they will enter CCAA (protection from creditors) and in many cases liquidate. Here are 10 Canadian stocks to buy for the rebound. Chico’s has announced that it will be closing up to 250 stores in 2020. Many retailers and building owners are struggling to cope with the changes and an unknown future that will be either terrifying or exciting as we strategize for ‘what could be’ for the retail future in Canada,” he said. The vitamins and supplements retailer has filed for Chapter 11 bankruptcy and says it will close 800 to 1,200 of its stores. Here are the stores Lowe’s is closing in Canada in the new year. May 19 to 23. Into the fall, I think we’re going to see more of this. Hudson's Bay will pay store associates for all scheduled shifts, but it's unclear whether the store will provide employees with financial assistance beyond that. 1:05 Lowe’s to Close 31 Stores in Canada WATCH: Lowe's Companies Inc is closing 31 underperforming stores in Canada, including some of its Rona locations. Bed Bath & Beyond Inc. plans to close approximately 200 stores or 21% of Bed Bath stores over the next two years, the company announced Wednesday. Microsoft has seven stores in Canada, which will all be closing. Stage Stores, which owns Gordmans, Bealls, and Goody’s, has closed all 700 locations. Canada Edition CLOSE. Join the conversation Ascena Retail Group filed for Chapter 11 bankruptcy in July and … Walmart just announced that they will soon be closing 154 locations in 26 states throughout the U.S., affecting close to 10,000 employees.. Gap will close up to 230 stores. News. These Pictures Show Why They Were Such a Failure. 7. As a result, we are closing a number of stores across the Gap Inc. fleet, including our Gap brand store on Bloor Street at the end of January 2021.