VANCOUVER — Canadian apparel brand Oak + Fort says it has obtained creditor protection as it works to restructure the business.
The Vancouver-based company says the move is necessary because U.S. tariffs have joined other price pressures and led to a decline in consumer confidence and spending.
The tariffs arrived after Oak + Fort pushed to open 26 new Canadian and U.S. stores in the last four years, which the company says resulted in a reduced and ultimately insufficient investment in its e-commerce platforms.
Court documents show the company owes more than $25 million to creditors including some landlords who didn’t receive May rent payments.
Oak + Fort says it will continue to operate stores and an e-commerce business during the restructuring.
The retailer has hired Reflect Advisors LLC to assist with the restructuring.
Oak + Fort was founded in 2010 as an online boutique that eventually expanded to 42 stores in Canada and the U.S. selling womenswear, menswear, accessories, jewelry and home goods.
