Canadian fashion retailer Frank And Oak and Comark Holdings Inc., parent company of Ricki's and cleo, have both announced closures and bankruptcy filings in recent weeks.
Frank And Oak, a Canadian clothing retailer operated by UCG Holdings Canada , filed for bankruptcy protection on December 16, 2024, under the Bankruptcy and Insolvency Act. The company, which has stores across Canada , cites difficulties recouping losses from the COVID-19 pandemic. CEO Dustin Jones stated they aim to restructure operations for a more sustainable business model. Meanwhile, Comark Holdings Inc.
, the Vancouver parent company of clothing retailers Ricki’s and cleo, announced the closure of both brands in all retail locations on January 7, 2025, citing a decision made after careful consideration of available options. Comark noted that cleo will cease accepting returns and exchanges after January 17, 2025
BANKRUPTCY FASHION RETAIL CLOSURES COVID-19 IMPACT CANADA
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