Topshop is closing all stores in Canada and leaving The Bay for good
Just ten years after opening its first official store in Canada to an overwhelming amount of fanfare, the once-venerated British fast-fashion chain Topshop is exiting the country.
What this means is that all Topshop and Topman retail spaces within Hudson's Bay department stores (such as those at Toronto's Eaton Centre and Yorkdale Mall) will be closing down this fall.
The Hudson's Bay company has confirmed that Topshop will be gone by October of 2021, and that the majority of impacted sales associates will be transferred within the company.
It sucks to see another popular multinational clothing brand pull out of Canada, but it's not like we didn't see this one coming.
Back in May of 2019, Topshop's then-parent company Arcadia Group filed for bankruptcy in the U.S. and announced the closure of all its American stores.
As recently as 2020, after Arcadia went into administration, a representative from The Hudson's Bay Company told blogTO that they expected "no immediate impact or disruption to Topshop at Hudson's Bay."
But that was before Topshop was purchased by ASOS — another U.K.-based retailer that specializes in high street fashion for millennial and Gen Z consumers, but operates exclusively online.
The roughly $565 million deal was announced in February, at which point it was learned that ASOS had not agreed to take over any of Topshop's 70 remaining retail stores.
Topshop and Topman are still alive and well on ASOS.com ("new home, who dis?" reads a banner displayed across the brand's microsite), but the days of their IRL stores-in-stores at The Bay are numbered.
Citing an unnamed source, Retail Insider reports that HBC was "unable to come to an agreement with ASOS which led to Topshop's pulling out of Canada's Hudson's Bay stores." It's not yet clear if Topshop products will be sold at Nordstrom, as they currently are in the U.S., following the fall closures.
Founded in 1964 as part of a British department store called Peter Robinson, Topshop has evolved over the years into a wildly-popular clothing, accessory and shoe chain known for its fun, youthful styles (which now, thanks in large part to Topshop, include mom jeans.)
Prior to the Arcadia bankruptcy, Topshop/Topman boasted 510 retail stores across the world, more than 300 of them in the U.K.
The company entered North America in 2007 and had 11 famously large flagship locations across the U.S. by the early 2010s with intentions to expand.
Kate Moss, Beyonce and Kate Middleton are among the fashion icons who've become associated with the brand over the years, either for their dope capsule collections or, in the case of the latter celebrity, for simply wearing cute Topshop dresses.
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