Clothing retailer BCBG Max Azria has announced plans to close all of its 51 Canadian stores in an attempt to restructure and seek protections from creditors. The women’s wear retailer, which boasts over 500 stores worldwide, is rumoured to have debts of up to one billions dollars (USD).
Unfortunately, like many other apparel and retail companies, BCBG has fallen victim in recent years to adverse macro-trends, including a general shift away from brick-and-mortar to online retail channels, a shift in consumer demographics,
the company said in a court filing obtained by the Canadian Broadcasting Company.
The company hopes to stay in business in the U.S. and internationally, “as part of the Canadian proceedings, BCBG Canada intends to liquidate and wind down all of its standalone locations,” the company stated in the court filing.
BCBG may still be available for purchase in Canada through online retailers, as well as kiosks inside department stores, including The Hudson’s Bay.