MONTREAL — Reitmans (Canada) Ltd. is laying off 90 per cent of its Canadian retail store workers and 30 per cent of its Montreal head office employees after closing stores amid the spread of … Gross profit for fiscal 2021 decreased $117.6 million, or 32.3%, to $246.3 million as compared with $363.9 million for fiscal 2020. MONTREAL — Reitmans (Canada) Ltd. says the insolvent clothing retailer will close its Thyme Maternity and Addition Elle stores over the summer, affecting about 1,400 employees, as part of its corporate restructuring. Contest begins on January 7th, 2020 (Eastern Standard time) and ends January 21st, 2020 at 11:59 p.m. (Eastern Standard time). Reitmans (Canada) Ltd. will close two of its retail chains and lay off roughly 1,400 workers as the company continues a restructuring amid the pandemic. Here is a look at some of the major retail closures announced in Canada in 2020, both before and during the pandemic. As at October 31, 2020, the Company operated 418 stores consisting of 247 Reitmans, 92 Penningtons and 79 RW&CO. As part of that plan, the retailer will focus on its three remaining brands — Reitmans, Penningtons and RW & CO. Stores closing in 2020: 131. On June 1, 2020, the Company announced that, as part of its restructuring plan and as approved by the Monitor, it was closing the Thyme Maternity and … Reitmans was already in a weakened state before the virus. The company's stock was moved from the Toronto Stock Exchange to the TSX Venture Exchange . Reitmans (Canada) Ltd. will close two of its retail chains and lay off roughly 1,400 workers as the company continues a restructuring amid the pandemic. The Montreal-based women's wear retailer says it remains in business (stores closed due to #COVID19). Reitmans is expected to continue running the rest of its brands in Canada, which include 259 Reitmans stores, 106 Penningtons stores, and 80 RW&CO stores. The outbreak of the coronavirus is having “significant impacts” as it closed all of its stores March 17, the company said. La Vie En Rose is also closing its doors across Canada. In its latest financial filings, released after market closing on Friday, total sales at Reitmans were down 5.8% year-over-year for the 2020 fiscal year, which ended on Feb. 1 and does not include impacts associated with store closures due to physical distancing. Follow @Reitmans (if you haven’t already done so). Reitmans will shutter 77 Addition Elle and 54 Thyme Maternity stores across Canada as part of its restucturing process, the Montreal-based retailer announced Tuesday. Since September 2020, with the number of daily cases continuing to increase, provincial governments enacted a variety of measures, ranging from limiting the number of people allowed in retail stores at the same time to temporarily closing stores. Montreal-based Reitmans said Monday that it will shutter its 77 Addition Elle stores on Aug. 15 and 54 Thyme Maternity locations on July 18. There are several B.C. ... remain open can be adjusted – Mar 24, 2020. It has 576 stores and 6,800 employees. Stores closing in 2020: 131. Reitmans Canada announced it would permanently close two of its brands over the summer as part of its restructuring. locations of […] Reitmans said it will liquidate inventory and shut down physical and e-commerce Thyme Maternity stores by July 18. Find the closest store near you. MONTREAL - Reitmans (Canada) Ltd. is laying off 90 per cent of its Canadian retail store workers and 30 per cent of its Montreal head office employees after closing stores amid the spread of … Addition Elle stores will shutter by Aug. 15. A view of Reitmans shop and logo in South Edmonton Common in September 2018. MONTREAL – Reitmans will lay off 1,400 employees – including 300 in Montreal – while the brand is repositioning itself “for long-term success” by closing its Addition Elle and Thyme Maternity stores, it was announced Monday. However, Reitmans filed for bankruptcy protection in May 2020 and subsequently closed its Thyme Maternity (54 locations) and Addition Elle (77 locations) stores over the summer of 2020. The company employs about 6,800 people and operates 259 Reitmans… — Richard Dettman (@rwdettman) May 19, 2020 1 NON-GAAP FINANCIAL MEASURES FILE - A Reitmans sign is seen on a store front in Montreal on Tuesday, June 18, 2019. Reitmans was struggling with lagging sales even before the pandemic forced the closing of its stores across Canada. Reitmans (Canada) Limited has announced a restructuring plan designed to foster long-term success. After the closures, the retailer will be left with 445 stores, including 259 Reitmans, 106 Penningtons and 80 RW&Co locations, and approximately 5,400 employees. The brands will combine an e-commerce focus and […] As noted above, all Addition Elle and Thyme Maternity stores … In its previous fiscal year, ended Feb. 1, Reitmans … Check our business hours and discover our collections and current promotions. The Montreal-based company says it will focus on three brands: Reitmans, Penningtons and RW & CO. Montreal-based Reitmans said Monday that it will shutter its 77 Addition Elle stores on Aug. 15 and 54 Thyme Maternity locations on July 18. ... An important letter to our community ️ Reitmans retail stores will be closing today until March 28. Officials say their decision will be reassessed on April 1st. Starting today, for a period of 2 weeks, la Vie en Rose stores will be closed for the health and safety of employees and clients. About Reitmans (Canada) Limited. The Company operates 587 stores consisting of 260 Reitmans, 112 Penningtons, 79 Addition Elle, 81 RW & CO. and 55 Thyme Maternity. Bench Flickr/BargainMoose At the end of January 2020, Freemark Apparel Brands, the company that has the rights to sell Bench merchandise in Canada, announced that it would be closing all of its Bench stores to focus on e-commerce and wholesale clients. Bloomberg the Company & Its Products The Company & its Products Bloomberg Terminal Demo Request Bloomberg Anywhere Remote Login Bloomberg Anywhere Login Bloomberg Customer Support Customer Support The brand announced it's closing down two of its retail chains during restructuring. By 2015, Reitmans had 823 stores across the network. Gross profit as a … Comparable sales were down 1.3% and in-store traffic dropped 2.2%. Part of this new plan will see the company focus on three brands—Reitmans, Penningtons, and RW & CO., and Thyme Maternity and Addition Elle will be phased out and completely closed by the end of summer 2020. Reitmans has filed for bankruptcy protection under the Companies' Creditors Arrangement Act. Reitmans Canada announced it would permanently close two of its brands over the summer as part of its restructuring. Reitmans converted some of those Smart Set locations to a new brand, Hyba — the company's activewear line. Good luck! David’s Tea is temporarily closing all of its North American retail locations until further notice. The Company is a leading women's specialty apparel retailer with retail outlets throughout Canada. About Reitmans (Canada) ... As at May 2, 2020, the Company operated 576 stores consisting of 259 Reitmans, 106 Penningtons, 80 RW&CO., 77 Addition Elle, and 54 Thyme Maternity. But in its last fiscal year, which ended on Feb. 1, Reitmans lost $87.4 million compared to a net profit of $6.8 million the previous year. Reitmans Canada Ltd. says it is laying off 90 per cent of its Canadian retail store workers and 30 per cent of its Montreal head office employees after closing stores amid the spread of COVID-19. Reitmans, close to you since 1926. The Canadian retail sector has been having a rough go and COVID-19 has been the final nail in the coffin for many stores that will be closing in 2020: Starbucks : Filings dated June 10 show that Starbucks plans to close 200 Canadian locations as part of a new two-year business plan. Expectant mothers are being cautious and shopping online during the global health crisis. The company’s net loss for the quarter ending February 1 was $51.7 million compared with a net loss of $8.9 million in the same quarter a year earlier. 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