The company was saved just last year when Grafton Fraser in Canada, owner of Tip Top, bought the Canadian arm of classic women’s wear company Jones New York.
The company continued to bleed money in a tough retail environment until this week the decision was made to pull the plug. All 37 stores in Canada will close and the stock liquidated. There will be a loss of 300 jobs.
In Winnipeg, the one and only Jones New York is on Kenaston at McGillvary and can be seen from the road. The province to take the biggest hit will be Ontario where the bulk of the stores are.
The Kenaston big box location has seen some closures recently. Some of those are likely in anticipation of the opening of Outlets of Seasons factory mall. There should be some interest in the vacant spots but things will be in flux till next year for sure.
Retailing has never been more fickle and the market so difficult to read. This won’t be the last store group to close. Sears continues to struggle and that is one everyone is waiting for to sink or swim.
This has been a guest editorial by John Dobbin.
To read more from John, visit his blog Observations, Reservations, Conversations