KAWARTHA LAKES-The corporate that owns Ricki’s, Cleo and Bootlegger has introduced it has entered chapter.
“After careful consideration of all reasonably available options, the Company has determined that it is in the best interests of its stakeholders to wind down its Ricki’s and Cleo operations and to close all Ricki’s and cleo retail store locations. The Company will continue to explore opportunities with respect to Bootlegger through the CCAA process, which will include reducing its retail footprint to better position the Company in today’s retail environment.” stated the corporate in an announcement.
Comark Holdings Inc., has commenced proceedings below the Corporations’ Collectors Association Act. The Firm intends to hunt a Courtroom order approving the complete liquidation of all Ricki’s and cleo and sure Bootlegger shops. The shops will stay open throughout this course of.
The Firm presently has 221 shops in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, and Newfoundland and Labrador.
Specialists say plenty of components contributed to the downfall. The pandemic which led to prolonged retailer closures, a 2021 ransomware assault disrupted operations throughout an necessary vacation gross sales interval, leading to an $8.2 million income loss and world provide chain points induced had been main components.
The shops in Lindsay and Peterborough are slated for closure. Prospects have till the tip of day on January sixteenth to make use of reward playing cards and make returns or exchanges. The shops will stay open for clearance gross sales. No less than eight workers in Lindsay can be with out a job. It’s unclear what number of workers on the Peterborough areas can be out of labor.
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