Nordstrom Canada operates six Nordstrom stores and seven Nordstrom Rack stores. As part of its initiatives to drive long-term profitable growth and enhance shareholder value, and after careful consideration of all reasonably available options, Nordstrom Inc. has decided to discontinue support for Nordstrom Canada’s business operations. "We regularly review every aspect of our business to make sure that we are set up for success," said Erik Nordstrom, CEO of Nordstrom Inc. "We entered Canada in 2014 with a plan to build and sustain a long-term business there. Despite our best efforts, we do not see a realistic path to profitability for the Canadian business. We want to thank our team for their performance and dedication in serving customers in Canada. This decision will simplify our structure, intensify focus on our growth and profitability goals and position us to create greater value for our shareholders." Wind-Down of Operations Accordingly, Nordstrom Canada has commenced a wind-down of its operations, obtaining an Initial Order from the Ontario Superior Court of Justice under the Companies’ Creditors Arrangement Act (CCAA) to facilitate the wind-down in an orderly fashion. Nordstrom Canada intends to wind down its Nordstrom and Nordstrom Rack stores across Canada, with the […]
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