Ricki’s and cleo retail brands closing, Bootlegger restructuring

Several Canadian fashion retailers will be closing their doors after ownership company Comark Holdings announced it has filed for creditor protection.

Comark is the Vancouver-based parent company of retail brands Bootlegger, Ricki’s and cleo.

The company currently has 221 stores across eight Canadian provinces.

“After careful consideration of all reasonably available options, the company has determined that it is in the best interests of its stakeholders to wind down its Ricki’s and cleo operations and to close all retail store locations under those banners,” Comark said in a statement Wednesday.

“The Company will continue to explore opportunities with respect to Bootlegger through the (Companies’ Creditors Arrangement Act) process, which will include reducing its retail footprint to better position the Company in today’s retail environment.”

In its statement, Comark also said it plans to seek a court order approving the full liquidation of all Ricki’s and cleo stores, as well as certain Bootlegger stores.

The company says the storefronts will remain open during that process.

Comark was one of several retail brands to file for creditor protection and restructure operations during the COVID-19 pandemic.

Before filing for protection in June 2020, Comark operated over 300 stores.

Meanwhile, UCG Canada Holdings Inc., which operates as apparel brand Frank and Oak, says it is seeking creditor protection while it explores options to restructure its business. It says one of those options may be a sale of the Montreal-based company with 15 stores.

Court filings say the move is necessary because Frank and Oak failed to recoup losses experienced during the aftermath of the COVID-19 pandemic.

With files from The Canadian Press