European retailer Mexx has filed for bankruptcy, and all Canadian stores will be selling off their stock.
It’s been a struggle in recent years for Mexx. The Montreal Gazette reports that Mexx president and chief creative officer Julia Hansen admitted earlier this year “the Dutch chain had not kept its cool factor.”
Thursday, Mexx filed for bankruptcy protection in the Netherlands, which affects all 315 of their world-wide locations, including the 95 in Canada. Many of Mexx’s stores were in Montreal, along with their warehouse. The Bay stocks their designs, as well, notes CBC.
The clothing retailer came onto the global fashion scene in the 1980s, but faded in popularity in the last several years. The chain was featured in a season four episode of “Undercover Boss Canada.”
In a press release issued by Mexx, Hansen says the chain suffered from the fallout of overall retail sales slowing, political tensions in Eastern Europe, the falling value of Russian currency, and “promotional pricing pressure in Canada.”
Mexx says their stores will remain open and the chain is expected to seek a buyer. Locally, Mexx operates stores in Vancouver at Pacific Centre and on Robson Street, in Burnaby at Metrotown, at Richmond Centre, and Surrey’s Guilford Town Centre, among others in the GVA.
Featured image: Bargain Moose via Flickr