CLOSURE: Major clothing retailer closing all stores in Canada [Video]

Canadian fashion chain Frank and Oak plans to close all of its 14 stores, according to news reports.

Earlier this month, reports indicated the company planned to close nine to 10 stores by May 7 as it looked for a buyer.

But this week Frank and Oak said the Superior Court of Quebec approved the sale of the brand to Lamour Group and Thread Collective Inc.

The 14 stores are slated to close in the coming weeks and the company will sell its intellectual property to a Montreal-based company as part of ongoing restructuring efforts.

According the Frank and Oak website, there are seven stores in Quebec, five in Ontario and and two in Vancouver.

Frank and Oak faced financial difficulties due to COVID-19 and supply chain problems, the company has said. The company filed for creditor protection under the Bankruptcy and Insolvency Act in December 2024 as it struggled with $71 million in debt.

The Frank and Oak …