Vancouver-based apparel company Oak + Fort has obtained creditor protection to restructure its business, owing over $25 million to creditors. The company attributes this financial distress to U.S. tariffs, declining consumer confidence and spending, and insufficient investment in its e-commerce platforms following a rapid expansion of 26 new stores in Canada and the U.S. over the last four years. The company plans to continue operating its stores and e-commerce business during the restructuring process.
Vancouver apparel company Oak + Fort seeks creditor protection
CBC Metro VancouverOak + FortVancouver retailBritish ColumbiaUnited StatesVancouverChristy WongDavid Ian GrayBusinessTariffsRetail and wholesale sectorLegalE-commerce
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Vancouver-based apparel company Oak + Fort has obtained creditor protection to restructure its business, owing over $25 million to creditors. The company attributes this financial distress to U.S. tariffs, declining consumer confidence and spending, and insufficient investment in its e-commerce platforms following a rapid expansion of 26 new stores in Canada and the U.S. over the last four years. The company plans to continue operating its stores and e-commerce business during the restructuring process.
Trending- 1 2010: Oak + Fort founded as an online boutique.
- 2 Last four years: Oak + Fort opened 26 new stores in Canada and the U.S.
- 3 May (recent): Some landlords did not receive rent payments.
- 4 Recently: Oak + Fort obtained creditor protection.
- Oak + Fort owes over $25 million to creditors.
- The company is undergoing business restructuring.
- Stores and e-commerce operations will continue during restructuring.
- Other retailers may face similar challenges in the coming months.
What: Vancouver-based apparel brand Oak + Fort has obtained creditor protection to restructure its business, owing more than $25 million to creditors.
When: The company obtained creditor protection recently. The expansion of 26 new stores occurred in the last four years. May rent payments were missed. The company was founded in 2010.
Where: Vancouver, British Columbia, Canada, United States (where stores are located), New York (where a customer is from).
Why: The company cites U.S. tariffs, other price pressures, a decline in consumer confidence and spending, and insufficient investment in its e-commerce platforms after a rapid expansion of physical stores.
How: Oak + Fort rapidly expanded its physical store presence by opening 26 new stores in Canada and the U.S. over four years. This expansion led to reduced investment in e-commerce. Combined with external factors like U.S. tariffs and a general slump in consumer spending, the company accumulated significant debt, leading it to seek creditor protection.