Crabtree And Evelyn Bankruptcy

As reported in yahoo.

Crabtree and evelyn bankruptcy. Popular beauty and home decor retailer crabtree evelyn has officially announced that it is filing for bankruptcy amid significant losses. Crabtree evelyn attributed their bankruptcy to significant losses it has experienced due to changing consumer demand the rise of e commerce and long term declines in traditional retail traffic. Crabtree evelyn has between 10 million and 50 million of both assets and debts a court filing shows and it has received a commitment for a 40 million debtor in possession financing facility. Finance the retailer has filed for bankruptcy protection in.

Hong kong based khuan choo international acquired the brand in 2012 before it was taken over by another hong kong company nan hai corporation in 2016. Unfortunately crabtree evelyn has filed for bankruptcy protection in canada and the company has begun liquidating inventory to distribute the proceeds to creditors. Crabtree evelyn caught everyone by surprise with its relaunch in singapore coupled with an ecommerce push. In quebec court filings under the bankruptcy and insolvency act the.

A brand once synonymous with luxury skin care cookies and beautifully decorated tin cans crabtree evelyn has called it a wrap in canada as it begins liquidating its inventory. Crabtree evelyn which also launched a new e commerce website during the bankruptcy said that it plans to expand its wholesale business and enhance its product assortment going forward. Crabtree and evelyn had previously filed for bankruptcy protection in the us and closed some of its stores there in 2009 when the company was owned by kuala lumpur kepong berhad a malaysian. Nan hai did not respond to queries on crabtree and evelyn s reported bankruptcy protection filing in canada or the number of layoffs associated with the brand s move away from brick and mortar.

Beauty and home products retailer crabtree evelyn canada inc. Crabtree evelyn was founded in the united states in 1972. The brand has 19 stores and employs 123 full and part time staff. This came just days after it shut its retail stores in january and ceased online.

Of the brand s 19 stores 11 are in ontario.