Jean Machine files for Bankruptcy Protection

on 01/17/2017 - 01:00 pm

It looks as if 2017 is off to a dismal start for Canadian Retail. Style Democracy has reported that Jean Machine has filed for Bankruptcy Protection. 

Jean Machine, once a denim institution, operates 35 stores in Ontario and has been in business for 40 years.

Style Democracy reports: “The Toronto-base retailer has quietly filed their notice of intention in an Ontario Superior Court to create a restructuring proposal under the Bankruptcy and Insolvency Act as they owe an unspecified amount to their creditors.”

The Globe and Mail is reporting that they have been unable to rise up against competition, especially from deep-pocketed brick and mortar chains and nimble online retailers.

 

 

Jean Machine Yorkdale (From Facebook)



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