High-end grocery store in Toronto closes one of its biggest locations
Upscale grocery store, McEwan’s has closed its Yonge and Bloor location months after its parent company filed for creditor protection.
As of December 11, the fine foods grocery store has permanently closed its Yonge and Bloor outpost, they announced via Instagram.
“We’re extremely grateful for our wonderful staff who continue to amaze us on a daily basis. Since our announcement in October we’ve been committed to providing a smooth relocation for each individual within our company,” read the Instagram post.
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“We’re grateful to our clients who travelled to visit us and all the new friends we’ve made over the last 3 years within the Yonge & Bloor community. As we close this chapter we are excited to begin the next.”
Back in September, its parent company filed for creditor protection due to a “liquidity crisis” following the COVID-19 pandemic. Court documents note that the company holds around $11 million in outstanding liabilities and a cash balance of about $1 million.
“McEwan Yonge & Bloor has had the most detrimental impact on the company’s overall financial performance. With the benefit of hindsight, the company would not have entered into operations at this location based on the existing lease terms,” read the documents. “McEwan Yonge & Bloor has been a significant challenge since its opening and currently remains a material issue for the company.”
McEwan’s continues to run its two other locations at Don Mills and the TD Centre.
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