10 retail stores that closed or went bankrupt in Canada in 2021
Businesses are still reeling from the lasting effects of the pandemic.
While Canadians are expected to spend more during the holiday shopping season this year, some brick-and-mortar stores won’t be able to reap the rewards.
At the beginning of the year, retail sales fell by 1.4% because of lower sales at non-essential businesses like clothing and accessories stores, according to Statistics Canada. Those retailers had to close in-person shopping as governments across the country implemented mandatory lockdowns.
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The fallout of the economic hardships caused by COVID-19 is seen in the closure or bankruptcies of some big name stores.
From a coffee chain that used to be on every corner to an iconic clothing store, Canadians might not see some of their go-to retailers this holiday shopping season.
Here are some of the brands that have either closed store locations or gone bankrupt in 2021.
Disney store
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The last three remaining Disney stores in Canada closed back in September. The retailer, which specializes in selling exclusive Disney toys and merch, announced in March that it would “significantly reduce” its brick-and-mortar stores and focus on its ecommerce business. Canadians can still shop for Disney goodies online.
Starbucks
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In January, Starbucks announced that it would close up to 300 stores across Canada by the end of March. The Seattle-based coffee chain said most of the stores closing are located in metro, downtown core areas in Canada.
Gap
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Gap closed its brick-and-mortar stores across Canada this year, announcing a plan to close about 350 stores in North America by 2023.
Banana Republic
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Also owned by Gap Inc., this clothing store is part of the 350 store closures planned across North America.
Victoria’s Secret
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The lingerie store’s parent company L Brands announced its plans permanently close between 30 to 50 stores in the United States and Canada this year.
Godiva
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At the beginning of the year, the luxury chocolatier announced its plan to shutter all of its Canadian stores by the end of March as a result of a drop in in-person shopping due to the pandemic.
Kiehl’s
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The popular skincare brand announced their plan to close eight “freestanding stores” located in the GTA/London, Montreal, Laval, Coquitlam/GVA, and Edmonton early this year to prioritize their online store.
J. Crew
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The brand closed its last Canadian store located in Yorkdale Mall, in Toronto, early in February.
L’Occitane
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The beauty brand filed for bankruptcy back in January due to declining brick-and-mortar sales, according to Retail Dive.Â
Bizou
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A total of 24 of this Quebec-based jewellery brand’s 85 stores were planned to close by the end of January, according to a French language report in La Presse.
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