Winnipeg-based clothing retailer Warehouse One is moving to liquidate all of its 128 stores, including Bootlegger.
The company began proceedings in Manitoba under the Companies’ Creditors Arrangement Act, saying it was insolvent and could no longer pay staff or rent unless it got court protection.
Director and officer Shamsh Kassam said in an affidavit that the company faced an “acute liquidity crisis,” with a decline in foot traffic and increased competition from cheap fast fashion and online retailers putting pressure on the once-profitable jean store founded — and still headquartered — in Winnipeg in 1977.
Warehouse One “is unable to satisfy its near-term obligations as they become due,” the affidavit said.
The company has 982…