Another major clothing retailer in Canada has obtained creditor protection [Video]

Canadian apparel brand Oak + Fort says it has obtained creditor protection as it works to restructure the business.

The Vancouver-based company says the move is necessary because U.S. tariffs have joined other price pressures and led to a decline in consumer confidence and spending.

The tariffs arrived after Oak + Fort pushed to open 26 new Canadian and U.S. stores in the last four years, which the company says resulted in a reduced and ultimately insufficient investment in its e-commerce platforms.

Court documents show the company owes more than $25 million to creditors including some landlords who didn’t receive May rent payments.

Oak + Fort says it will continue to operate stores and an e-commerce business during the restructuring.

The retailer has hired Reflect Advisors LLC to assist with the restructuring.

Oak+ Fort was …