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Reitmans Canada shutting down Thyme Maternity and Addition Elle units

Financial Post 06/02/2020

Reitmans Canada announced that it is closing its Thyme Maternity and Addition Elle brands and cutting 1,400 positions as it restructures its business under the equivalent of bankruptcy in the U.S. “The strategic decision to close two beloved Canadian fashion brands was not made lightly, but it is necessary to enable our business to move forward as a profitable organization,” Stephen Reitman, chief executive of Reitmans (Canada) Ltd said Monday. “All of the efforts we put forth to turn these brands around were derailed by the COVID-19 pandemic and, unfortunately, we can no longer afford the required resources to bring them back to profitability.”

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