Popular beauty and home decor retailer Crabtree & Evelyn has officially announced that it is filing for bankruptcy amid "significant losses."
Of the brand's 19 stores, 11 are in Ontario. All stores will be closed nationally.
Like many companies that have gone under in recent years, Crabtree & Evelyn blames online shopping and changing consumer habits for the the decline in sales.
According to the company, it has about $1.3 million left in inventory, which it plans to liquidate, and approximately $300,000 in its wholesale accounts receivable.
Seems brand loyalists will have to find a new spot to pick up that Golden Fig Body Butter next Christmas.
by Staff via blogTO
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