The Gap has officially announced that its Canadian flagship in Toronto will be permanently closing. The store which resides at 60 Bloor Street West has been in that same location for over 30 years now.
Kate Hardcastle, a consumer and retail expert says the closure is because Gap failed to keep up with the competition by not offering enough variety or being as cheap as competitors such as Primark. The Gap. The parent company of retailer Gap made an announcement in February that they would close over stores around the globe. As of , 10 stores have been closed across Canada. Skip to content Email Login. Forgot password.
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Paphitis said the failure of La Senza was "very sad" but, having started rival chain Boux Avenue in , he was not interested in rescuing the troubled business.
The Boux Avenue and La Senza store estates overlap in more than 20 locations but the entrepreneur said he would look at stores in places where it was not represented. Robert Moran, joint administrator at PwC, said: "Like many other retailers, La Senza has been hit hard by the difficult economic environment and a slowdown in consumer spending.
Moran said there were "no immediate plans" to close stores, and the administrators would be holding discussions with interested parties about the potential sale of the business. The 58 store estate includes outlets in Westfield Stratford and Bluewater shopping centre in Kent which are likely to be attractive to other retailers.
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