Warehouse One Clothing has commenced proceedings under the Companies’ Creditors Arrangement Act and plans to wind down operations at all Warehouse One and Bootlegger retail locations across Canada.

The Winnipeg-based specialty fashion retailer obtained an initial order from the Court of King’s Bench of Manitoba under the CCAA as the firm seeks an orderly shutdown of the business. Warehouse One said it reached the decision after considering “all reasonably available options.”

The company plans to return to court in the coming days to seek approval for the liquidation of its 128 stores located in Alberta, British Columbia, Saskatchewan, Manitoba, Ontario, Newfoundland, Nova Scotia, New Brunswick and the Yukon.

Warehouse One Clothing operates stores under the Warehouse One and Bootlegger banners and describes itself as one of Canada’s largest specialty apparel retailers. The company was established in 1976.

Alvarez & Marsal Canada was appointed as court monitor in the CCAA proceedings. In its first report on the case, Alvarez & Marsal said the court authorized Warehouse One to borrow up to $1 million in debtor-in-place financing from Highgate Capital to keep operating during the proceedings.

Court filings and related information are available through the monitor’s website at Alvarez & Marsal Canada..

Photo: Warehouse One