BUSINESS
12/03/2018 14:05 EST | Updated 12/03/2018 14:06 EST

Crabtree And Evelyn Canada Closes Stores, Files For Bankruptcy Amid 'Significant Losses'

The company says it will begin liquidating its inventory to pay off creditors.

A Crabtree & Evelyn entrance at McCarran International Airport, Las Vegas, Nev.  Crabtree and Evelyn Canada Inc. is closing its stores and has filed for bankruptcy protection.
Jeff Greenberg via Getty Images
A Crabtree & Evelyn entrance at McCarran International Airport, Las Vegas, Nev. Crabtree and Evelyn Canada Inc. is closing its stores and has filed for bankruptcy protection.

MONTREAL — Beauty and home products retailer Crabtree and Evelyn Canada Inc. is closing its stores and has filed for bankruptcy protection.

In Quebec court filings under the Bankruptcy and Insolvency Act, the company says it plans to begin liquidating inventory, so it can distribute the proceeds to creditors.

Watch: Why Asian retailers are flocking to Canada (story continues below)

The company employs 123 full- and part-time employees in Canada and operates 19 stores, including 11 in Ontario, six in B.C. and one each in Alberta and Quebec.

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.

Earlier on HuffPost Canada:


The filings also show the company's assets consist primarily of $1.3 million in inventory and $300,000 in its wholesale accounts receivable.

The company says it has accrued $15.2 million in unpaid obligations, including $14.8 million in inventory-related costs and about $24,000 in employee vacations.