Fashion & Business / legal / US and Canada

Financial Post: BCBG Max Azria to close Canadian stores as company files for bankruptcy

Every day I pass by the enormous sale signs flooding the BCBG location at 68th and Broadway and think to myself, “what a shame”. I can take no solace in Canada either where all 51 stores are closing. BCBG Max Group’s Canadian affiliate has also filed for voluntary reorganization proceedings under the Canadian Bankruptcy and Insolvency Act. Once the home of all things formal and prom-like, BCBG fell in the same way many mall brands have. Online sales and changes in consumer shopping habits have sent shockwaves through the industry, and resulted in the boarding up of shops we had once thought of as staples in malls. However, the signs of BCBG’s struggle was there in broad daylight. Azria himself left the brand in mid 2016, quickly followed by his own daughter. When a founding family appears to be fleeing ship, it can only mean that the ship is sinking. Perhaps now is a good time to look to the back of your closet at the frills, lace, and ruche that BCBG brought into your home, and feel a sense of nostalgia for a simpler time.

Source: Fashion house BCBG Max Azria to close Canadian stores as company files for bankruptcy | Financial Post