The 106-year-old retailer had been hit by a weak Canadian dollar and soft local economy
Ben Moss Jewellers, the 106-year-old Canadian jewelry retailer, is closing all 54 of its stores, according to a release from Gordon Brothers Group.
The retailer, based in Winnipeg, had been hit by a weak Canadian dollar and soft economy in western Canada, the release said. It filed for a court-supervised restructuring in May.
“After considering all of our restructuring options, including selling all or part of the business as a going concern, we have determined that this is the best course based on the challenges we are facing,” said Naveed Manzoor of FAAN Advisors Group Inc., Ben Moss’ chief restructuring officer, in a statement.
Gordon Brothers, along with ULC and Hilco Global, was the top bidder at a recent auction for Ben Moss’ assets.