Nordstrom Canada gets OK to liquidate closing stores
Bargain hunters are one step closer to seeing sales at Nordstrom’s closing Canadian locations.
At a hearing at Osgoode Hall in Toronto on Monday, the Ontario Superior Court of Justice gave the U.S. retailer’s Canadian branch permission to start liquidating its merchandise.
Nordstrom required court approval because it is winding down its Canadian operations under the Companies’ Creditors Arrangement Act, which helps insolvent businesses restructure or end operations in an orderly fashion.
Nordstrom will close its six Canadian department store locations and seven Nordstrom Rack shops, which sell designer goods at discount prices, as part of the wind down.
When Nordstrom announced the move in early March, it said it expected Canadian stores to close by late June and 2,500 workers to lose their jobs.
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