Home / World / English News / Nordstrom Canada liquidation sales expected to begin Tuesday as store prepares for exit

Nordstrom Canada liquidation sales expected to begin Tuesday as store prepares for exit

TORONTO — Nordstrom is expected to begin liquidating its stores across Canada today.

The start of the department store chain’s closing sale comes a day after the U.S. retailer’s Canadian branch got permission from the Ontario Superior Court of Justice to start selling off merchandise.

Nordstrom’s liquidation efforts are being led by Hilco Merchant Retail Solutions ULC and Gordon Brothers Canada and are expected to be complete by late June.

Furniture, fixtures and equipment will be liquidated alongside most of Nordstrom’s merchandise, but goods from third parties aren’t part of the sale because they were removed from stores over the weekend.

Read more:

Nordstrom Canada to begin liquidation Tuesday after receiving Ontario court’s permission

Nordstrom required court approval to liquidate because it is winding down its Canadian operations under the Companies’ Creditors Arrangement Act, which helps insolvent businesses restructure or end operations in an orderly fashion.

Story continues below advertisement

As part of the wind down, Nordstrom will close its six Canadian department store locations and seven Nordstrom Rack shops, which sell designer goods at discount prices.

&copy 2023 The Canadian Press

News Source link

Check Also

Linden Woods residents raise concerns over proposed addictions support centre – Winnipeg

Residents in the south west neighbourhood of Linden Woods are sharing concerns after approval was …