5 major chain stores that closed in Canada in 2025

A move toward online shopping, along with economic uncertainty, has led to the closures of beloved chain stores in Canada this year.

Thousands of people have lost their jobs, and the big store closures have left gaps in shopping malls and reduced options for those who prefer in-person shopping.

Here are five retail businesses that closed in Canada in 2025:

Hudson’s Bay Company

The closure with the biggest impact in Canada in 2025 was the Hudson’s Bay Company. After financial woes, the department store filed for creditor protection on March 7 and later announced all stores would close. Liquidation sales started later in March. All stores closed at the end of May this year.

The department store employed approximately 9,364 people across its 96 stores, four distribution centres and head office.

The closure marked the end of Canada’s oldest department store, with roots dating back to the 1600s.

Saks Fifth Avenue

As they were operating under license agreements with Hudson’s Bay Company, Saks Fifth Avenue also closed its three locations in Canada.

The first Saks Fifth Avenue opened in Canada in 2016. The flagship store, located in Toronto’s Eaton Centre, opened on Feb. 18, 2016. A store in Sherway Gardens followed, along with Chinook Centre in Calgary in 2018.

The company also launched its off-price division, Saks OFF 5TH, in 2016, but those stores also closed this year.

The U.S. upmarket department store was founded in 1867 by Andrew Saks.

Peavey Mart

In January, Canadian farm and hardware retailer, Peavey Mart, announced plans to close more than 90 stores across Canada. The store was founded in Dawson Creek, B.C. in 1967.

All Peavey Mart locations closed in the spring. Ontario locations in Arnprior, Bedford, Bowmanville, Brockville, Chatham, Collingwood, Cornwall, Goderich, Grimsby, Kingston, Kitchener, Lambeth, Mount Forest, New Liskeard, Sarnia, Smiths Falls, St. Catharines, St. Jacobs, St. Thomas, Sudbury, Woodstock, Uxbridge, Rockland and Hyde Park were all closed.

However, an investment group, 2707162 Alberta Ltd., bought rights to the brand later in April. In late fall, Peavy Mart reopened Alberta stores in Spruce Grove, Westlock, Camrose and Lacombe, with plans to open more stores.

Frank And Oak

In the spring, Canadian fashion chain Frank and Oak officially closed all 14 stores. The store suspended all online and retail operations in the U.S. as of April 22, and in Canada as of May 26, 2025.

The Montreal-based brand was founded by Ethan Song and Hicham Ratnani in 2012, and started as a sustainable online menswear shop for millennials. The brand expanded with physical stores and eco-friendly lines across Canada and the U.S.

On its website, the company said it is planning a return in some form in the future.

GameStop

GameStop, a Texas-based company, started to wind down operations in 2023 after it reported declining revenues due to a shift to online. Stores in Mississauga, at 6045 Mavis Rd., at Heartland Town Centre closed in February, South Common Centre, 2150 Burnhamthorpe Rd. W. closed in February 2024, and the Erin Mills Town Centre location closed on Dec. 10, 2023.

The remaining GameStop locations in Canada have reverted to EB Games. In May, Stephan Tetrault, a French-Canadian entrepreneur, announced he had acquired Electronics Boutique Canada inc., also known as “GameStop Canada,” from GameStop Global Holdings S.A.R.L.

Other businesses in trouble

After only two years, British fashion retailer FatFace closed all brick-and-mortar shops in Canada. The closure marked a short-lived expansion for the company—FatFace opened its first stores in Canada in 2023.

Stores in Niagara-on-the-Lake, Barrie, Newmarket, Toronto Premium Outlets in Halton Hills, Huntsville and Mapleview Centre in Burlington all closed.

Popular clothing stores Ricki’s and Cleo nearly closed this year amid financial struggles. But the parent company, Comark Holdings Inc., received approval to sell the Ricki’s and Cleo brands to Putman Investments Inc. in February.

Iconic Canadian clothing store, Club Monaco, also closed stores this year, including its original store at 403 Queen St. W.

The company closed its flagship location in the historic Lilian Massey building at 157 Bloor St. W. in early 2021, CF Toronto Eaton Centre in June 2025 and a men’s store at Yorkdale Shopping Centre in the fall of 2025.

Lead photo: Anna Shvets