The reason for the slim discount could be tied to the brand itself. Nordstrom, an upscale chain, primarily sells designer apparel, shoes and accessories. This makes it different from regular retailers and their liquidation sales, said Simeon Siegel, a senior analyst at BMO Capital Markets specializing in retail and e-commerce.
But for Nordstrom, maintaining relationships with the brands it carries — and maintaining its own reputation for luxury — is likely more important than the incremental dollars they’re going to get from liquidating those specific stores, he added. At the time, Nordstrom said it expected the Canadian stores to close by late June and 2,500 workers to lose their jobs. The company required court approval, which it received March 20 from the Ontario Superior Court of Justice, to begin the liquidation because it is winding down its Canadian operations under the Companies’ Creditors Arrangement Act. This helps insolvent businesses restructure or end operations in an orderly fashion.
As to whether Canadians can expect better bargains from Nordstrom’s liquidation, the answer is still unclear.
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