Clothes retailer Frank and Oak is closing all 14 of its shops within the coming weeks and promoting its mental property to a Montreal-based firm as a part of ongoing restructuring efforts.
In a press launch, the corporate says the Superior Courtroom of Quebec authorized the sale of the model to Lamour Group and Thread Collective Inc.
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It says the Frank and Oak model will proceed on, however the authentic company entity UGC Canada Holdings Inc. is anticipated to file for chapter and wind down its operations.
Present stock shall be liquidated, whereas e-commerce gross sales will proceed for Canadian clients.
The brand new working firm will take a look at choices for the way forward for the Frank and Oak model, which may embrace alternatives to relaunch in choose markets or channels.
Frank and Oak filed a discover of intention in December, saying it confronted monetary difficulties resulting from COVID-19 and provide chain issues.
© 2025 The Canadian Press
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