Nordstrom has announced that it will close all of its Canadian stores, cutting 2,500 jobs in the process.
The fashion retailer made the announcement on Thursday, noting that it does not “see a realistic path to profitability for the Canadian business.”
The move will result in the eventual closure of all of the company’s Nordstrom and Nordstrom Rack locations across Canada, including a flagship store located at CF Toronto Eaton Centre.
That store opened to much fanfare in 2016, covering about 213,000 square feet of space that was previously occupied by Sears Canada.
The company also operates stores at Yorkdale Shopping Centre, Vaughan Mills Shopping Centre and CF Sherway Gardens.
"We entered Canada in 2014 with a plan to build and sustain a long-term business there. Despite our best efforts, we do not see a realistic path to profitability for the Canadian business,” Erik Nordstrom, chief executive officer of Nordstrom, said in a news release. “We want to thank our team for their performance and dedication in serving customers in Canada. This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders."
The company currently operates six Nordstrom stores and seven Nordstrom Rack stores in Canada.
It says that its e-commerce platform will cease to operate as of today with the wind down of in-store operations expected to be completed by June with the help of a third-party liquidator.
