US EditionRicki's and Cleo to close stores while Frank and Oak seeks creditor protection
- Comark Holdings has filed for creditor protection under the Companies' Creditors Arrangement Act, intending to wind down its Cleo and Ricki's brands and close all stores in both chains.
- The company operates 221 retail outlets across eight Canadian provinces and plans to downsize Bootlegger while seeking a buyer for the remaining business.
- Comark reported a 19 percent drop in sales and a loss of $21 million on operations for the first nine months of 2024, citing challenges like a ransomware attack and increased competition.
- Court documents reveal that Comark operates 75 Ricki's stores and 54 Cleo stores, with plans to seek court approval for the full liquidation of these brands.
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Frank And Oak seeks creditor protection while Ricki's and Cleo shutter stores in retail shakeup
Montreal-based retailer Frank And Oak has filed for creditor protection for the second time this decade, seeking relief from $71 million in debt, while the Ontario company behind Ricky's and Cleo says it will shutter their stores.
·Canada
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Owners of Canadian clothing brands Frank and Oak, cleo file for creditor protection
Comark Holdings said it’s closing Ricki’s and cleo clothing stores and seeking a buyer for its Bootlegger chain, shortly after Frank and Oak said it was seeking a ‘viable path forward,’ including a possible sale
·Canada
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