Canadian clothing retailer permanently closing stores amid COVID-19 pandemic
Published July 21, 2020 at 2:19 pm
Toronto-based women’s fashion retailer Mendocino, which also operates under M Boutique, announced Tuesday (July 21) that they will close most or all of its stores amid the coronavirus pandemic.
According to a filing document by KSV Advisory Inc., the company filed a Notice of Intention (NOI) on July 14.
“As a result of challenges resulting from the pandemic, the Company recently made the very difficult decision to discontinue all or substantially all of their store operations and to focus on an e-commerce model,” stated the document.
“The protection resulting from filing the NOI will provide the stability required in order to advance and execute the Company’s restructuring plan.”
While the company filed an NOI, the statement clarified that “the company is not bankrupt.”
Prior to the COVID-19 lockdown, the company operated 28 retail locations across the GTA and the surrounding area.
Amid the NOI proceedings, the company plans on reducing the number of store locations as well as increase its e-commerce presence, after being significantly impacted by the pandemic.
Photo courtesy of Mendocino’s Facebook page
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