Mike Cohen / CC
Addition Elle and Thyme Maternity stores across Canada will close over the summer.
Parent company, Reitmans Limited unveiled restructuring on Monday.
Stephen F. Reitman, president and chief executive officer of Reitmans Limited, says, “The strategic decision to close two beloved Canadian fashion brands was not made lightly, but it is necessary to enable our business to move forward as a profitable organization. All of the efforts we put forth to turn these brands around were derailed by the COVID-19 pandemic and, unfortunately, we can no longer afford the required resources to bring them back to profitability.”
Seventy-seven Addition Elle stores will close on August 15. Fifty-four Thyme Maternity shops will permanently close on July 18.
This will put 1,400 employees out of work.
Reitmans also oversees Penningtons and RW&CO. stores.
