Arab Canada News
News
By Omayma othmani
Published: March 22, 2023
The first day of the Nordstrom liquidation began on Tuesday, but some shoppers expressed their dissatisfaction with the discounts.
Many sites witnessed shoppers lining up outside stores, expecting big discounts, only to discover that most items were marked down by only 5 percent.
For his part, a Nordstrom spokesperson told CTV News Toronto that "specific categories and products" were also discounted by up to 20 percent.
Earlier this month, Nordstrom announced it would exit the Canadian market, closing all six stores in the country and seven Nordstrom Rack locations.
The upscale retailer had opened its first Canadian store in 2014, but after eight years, CEO Erik Nordstrom said the company could not see a "realistic path to profitability" in the country.
Liquidation efforts only began after the company obtained approval from the Ontario Superior Court of Justice on Monday, as under the Companies' Creditors Arrangement Act, the company must get court approval before it can liquidate.
In addition to merchandise, the company will also liquidate all furniture, fixtures, and equipment from its stores.
The company had already closed its Canadian online store earlier this month.
Nordstrom's liquidation efforts are scheduled to end by late June.
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