Canadian fashion retailers Ricki's and Cleo will shutter their operations after Comark Holdings, their parent company, filed for creditor protection. Bootlegger, another Comark brand, will undergo restructuring. The company cites ongoing challenges stemming from the pandemic as contributing factors.
Canadian fashion brands Ricki's and Cleo will close after their parent company revealed it has filed for creditor protection. '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,' reads the statement.
The company also owns the clothing brand Bootlegger, which will undergo a restructuring that includes 'reducing its retail footprint.' Comark Holdings added that it intends to seek a further court order approving the full liquidation of all Ricki's, Cleo, and certain Bootlegger stores. All company sites show a notice telling shoppers that effective January 17, they will no longer accept returns and gift cards or be able to redeem or receive loyalty points. The store has been owned by New York-based Unified Commerce Group (UCG) since 2020. That year, it first sought creditor protection due to pandemic-related financial challenges. In court filings, the company says it continues to face challenges related to the effects of the pandemic and is considering options to possibly restructure its business
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