Arab Canada News
News
By Omayma othmani
Published: March 20, 2023
Clearance sales will begin in Nordstrom stores across Canada tomorrow, Tuesday.
A spokesperson for the major retail chain confirmed on Monday in an email to The Canadian Press, shortly after the Ontario Superior Court granted permission to the Canadian branch of the American retailer to start liquidating its goods.
At a hearing at Osgoode Hall in Toronto, lawyer Jeremy Daks, who represented Nordstrom, said the company "worked hard to achieve a consensual way forward" with landlords, suppliers, and the court-appointed monitor to find an orderly way to wind down operations in Canada.
Daks also said the company decided to enter into a joint venture with Hilco Merchant Retail Solutions ULC and Gordon Brothers Canada, which were involved in liquidating Target, Sears, and Forever 21 in Canada as external liquidators to assist.
The lawyer said they will oversee the sale of merchandise, furniture, fixtures, and equipment. He added that all sales will be final and no returns will be allowed.
Nordstrom had requested court approval to commence liquidation as it is in the process of closing its operations in Canada under the Companies’ Creditors Arrangement Act, which helps insolvent companies restructure or wind down operations in an orderly fashion.
Nordstrom will also be closing its six Canadian store locations and seven Nordstrom Rack stores, which sell designer goods at discounted prices.
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