Mar 20, 2023

By Bob Komsic

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After receiving the green light from the Ontario Superior Court, Nordstrom has announced liquidation sales will start tomorrow.
A lawyer for the American retailer told a hearing at Osgoode Hall, Nordstrom has ”worked hard to achieve a consensual path forward” with landlords, suppliers and a court-appointed monitor to find an orderly way to close its operations in Canada.
The sales will include not only merchandise, but furniture, fixtures and equipment.
All sales will be final and no returns will will allowed.
In approving the liquidation request, Chief Justice Geoffrey Morawetz agreed, saying Nordstrom’s facing a ”difficult time, but this process is unfolding in a very cooperative manner.”
When the retailer announced the move earlier this month, Nordstrom said it expected to close its six Canadian department stores and seven Nordstrom Rack discount shops by late June.
CEO Erik Nordstorm said this was being done because ”despite our best efforts, we do not see a realistic path to profitability for the Canadian business.”
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