Liquidation sale at Nordstrom's Ontario stores could begin as soon as tomorrow
A liquidation sale at six Nordstrom locations across the Greater Toronto Area could begin as soon as tomorrow.
A court hearing scheduled at Osgoode Hall on Monday granted the fashion retailer permission to start liquidating its merchandise.
Since it's been approved, Nordstrom has said that the liquidation sale would begin almost immediately.
The company is hoping to wrap up the liquidation process by June and close all 13 of its brick-and-mortar locations in Canada, including the six in the GTA.
Nordstrom's Canadian e-commerce platform has already been scrapped.
“Nordstrom is trying to exit quickly. They made the strategic decision to withdraw. So they are not going to drag this out,” Ian Lee, who is an associate professor at the Sprott School of Business at Carleton University, told CTV News Channel on Monday. “I think you are going to see very significant discounts. So for those consumers who are quick on the draw and get down there in the line I think they will pick up some good deals.”
Nordstrom opened its first Canadian store in Calgary in September 2014. Its first Toronto store at the CF Eaton Centre then opened in 2016.
Its decision to wrap up its Canadian operations is expected to result in the loss of about 2,500 jobs.
The company’s store locations in thee GTA are as follows:
- Nordstrom Sherway Gardens, 25 The West Mall, Etobicoke, Ont.
- Nordstrom Toronto Eaton Centre, 260 Yonge Street, Toronto, Ont.
- Nordstrom Yorkdale Centre, 3401 Dufferin Street, Toronto, Ont.
- Nordstrom Rack One Bloor, 731 Yonge Street, Toronto, Ont.
- Nordstrom Rack Vaughan Mills, 1 Bass Pro Mills Drive #E4, Vaughan, Ont.
- Nordstrom Rack Heartland Town Centre, 788 Boyer Boulevard, Mississauga, Ont.
With files from The Canadian Press
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