The store closures are part of its restructuring plan after it obtained court protection from creditors under the Companies’ Creditors Arrangement Act and Chapter 15 in the United States Bankruptcy Court for the District of Delaware.
Chief financial officer Frank Zitella said that with the closure of “a significant number of money-losing stores” it will focus exclusively on e-commerce sale which had a penetration rate of close to 43 per cent in the market before COVID-19.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DavidsTea closing 82 stores in Canada and exiting the U.S. marketInsolvent beverage retailer DavidsTea is closing 82 stores in Canada and exiting the U.S. market as it focuses on its e-commerce business and supplying grocery stores and pharmacies. Sorry to read the news. Purchased my tea there. They had one blend that was excellent. For that, I will miss it. Not real tea
Source: CTVNews - 🏆 1. / 99 Read more »
Financial sector weighs on Toronto market, U.S. stock markets mixedCanada's main stock index edged lower in early trading, weighed down by losses in the financial sector, while U.S. stock markets were mixed. haley_debruyne $400 billion the real number you are fooling no one 20,000 'missing' infrastructure projects. 34,700 'missing' due for deportation. $1.2 Trillion debt. 3 PM Ethics Violations. Costly failed UN bid.
Source: CTVNews - 🏆 1. / 99 Read more »
Asian stocks follow Wall Street higher after tech gainsAsian stock markets followed Wall Street higher on Thursday following gains for major U.S. tech stocks.
Source: CTVNews - 🏆 1. / 99 Read more »