Crabtree and Evelyn Canada closing its doors
The Financial Post reported that beauty and home products retailer Crabtree and Evelyn Canada Inc. is closing its stores and has filed for bankruptcy protection. Founded in 1973, the retailer has gone through several acquisitions and filed for bankruptcy before, in the US back in 2009 resulting in the closure of 30 of its 126 American-based stores. The Canadian business currently operates 19 stores. The company says it has experienced “significant losses,” which it attributed to changing consumer demand, the rise of e-commerce and long-term declines in traditional retail traffic.