The clothing retailer Mexx has declared bankruptcy and will close all of its stores, including 170 in Canada.

According to a news release, the chain made the decision in light of a “slowdown in orders and retail sales” worldwide and the impact of “promotional pricing pressure in Canada.”

It is not immediately clear when Mexx stores will begin closing down.

“We are deeply saddened by this turn of events for the company,” President and Chief Creative Officer Julia Hansen said in the press release. “The Mexx brand has a special place in the hearts of consumers globally and the response to the new collections had been so encouraging.”

The company has 2,800 employees worldwide.

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