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A frightening number of Canadian businesses have gone bankrupt due to the pandemic.
Besides the thousands of small businesses and shops that have gone under, a slew of high-profile businesses in Canada have filed for bankruptcy or sought protection from creditors.
Under Canada’s Companies’ Creditors Arrangement Act, companies that owe a minimum of $5 million can file for protection from creditors in order to restructure its business model.
From clothing retailers, travel companies, food/drink service, and even the circus, here are some of the country’s high-profile businesses, companies, and services that have gone bankrupt or have filed for protection as a result of the virus, since March 2020.
- Le Chateau – October 23
- Mountain Equipment Co-op – September 14
- Group DynamiteĀ – September 8
- Geox Canada Inc. – September 8
- Swimco – October 20
- SFP Canada Ltd. (Papyrus, Carlton Cards) – AugustĀ 20
- TA Hotel Management Ltd. Partnership – August 17
- Moores the Suit People Corp. – August 5
- Lauraās Shoppe Inc. – July 31
- Stokes Inc. – July 27
- Ann Canada Inc. – July 23
- Boutique Tristan & Iseut Inc. – July 20
- Mendocino Clothing Company Ltd. – July 14
- DavidsTea Inc. – July 8
- Lucky Brand Dungarees Canada – July 6
- Cirque Du Soliel Canada Inc. – June 30
- GNC Holdings – June 29
- Modasuite Inc. (Frank and Oak clothing retailer) – June 22
- Sail Outdoors Inc. – June 2
- Reitmans (Canada) Ltd – May 19
- Flighthub Group Inc. – May 8
- Aldo Group Inc. – May 7
- Cranbrook Glen Enterprises Ltd. – May 1
- Foodora Inc. – April 27
- Marche Restaurants – April 16
- CannTrust Holdings Inc. – March 31