Canadian fashion retailer Jacob to close all 92 stores

Montreal -- After a failed attempt to restructure under bankruptcy protection, Canadian fashion retailer Boutique Jacob said it will liquidate its inventory and close all 92 stores.



The Montreal-based chain, which operates the Jacob, Jacob Outlet and Jacob Liquidation banners, exited bankruptcy protection in 2011 and has been unable to return to profitability. According to a Reuters report, the company said it was hurt by a challenging economy as well as competition from international brands that have debuted in Canada in recent years.