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Renaissance refreshes to be less thrift, more modern retailer. SAIL was founded in 1981 and its first Sportium superstore opened in 2015. This copy is for your personal non-commercial use only. Over the last three years, both the Sail and Sportium banners continued with plans to expand in both Quebec and Ontario, including a a 50,000 sq. “This strategic decision is the best way to refocus and put our operations on a more solid footing.

Decathlon, known for its highly experiential big-box stores that some refer to as being the “IKEA of sports stores”, opened its first Canadian store in suburban Montreal in the spring of 2018. The company hopes to turn around its retail business and restore its financial health. Sail initially announced that it had filed for protection under the Bankruptcy and Insolvency Act on Monday, which it said would allow for a restructuring process that would reposition the company to meet the challenges of the current retail environment, which have been “accentuated” by the pandemic. Now located in Toronto, Craig is a retail analyst and consultant at the Retail Council of Canada. “The closure of six [Sportium] stores, which means the end of the Sportium banner, is a heartbreaking but necessary decision that will allow us to keep the most promising SAIL outlets,” said Norman Décarie, President and Chief Executive Officer of SAIL Outdoors Inc. “For several years now, the retail industry has been undergoing a major transformation characterized, among other things, by an increase in online sales and heightened competition,” said Norman Décarie. Copyright © 1987-2020 Brunico Communications Ltd. All Rights Reserved.

Sail has 1,800 employees, some of whom will be able to transfer to other stores or its distribution centre. Sail Outdoors Inc. has filed for bankruptcy protection so it can restructure amid the COVID-19 pandemic. The closures will impact roughly 500 employees, though the company said it would make offers to transfer employees to other stores or its distribution centres. Two Sail stores in Ontario – one in Vaughan and one in Etobicoke – will also close, following liquidation sales that are set to begin soon (both banners have reopened in Quebec and Ontario after spending roughly two months closed due to COVID-19). to colleagues, clients or customers, or inquire about Local investors claim that the company is acting fraudulently after an alleged settlement with the Canadian division. The move comes two days after the Quebec-based company said it filed for creditor protection under the Bankruptcy and Insolvency Act due to the pressure of having its stores were shuttered for several weeks because of measures to limit the spread of COVID-19. Our 100% e-commerce dedicated distribution centre, inaugurated last November, demonstrates our commitment to continue to innovate and evolve the company in line with the market and consumer needs,” said Mr. Décarie. Enjoy big savings on a wide selection of clothing, hunting, fishing & outdoor gear in clearance at SAIL.

National parks are currently only open for day use, and not overnight stays.

Quebec-based sporting goods retailer SAIL Outdoors Inc., which operates SAIL and Sportium has just filed for bankruptcy protection. Toronto Star articles, please go to: www.TorontoStarReprints.com, The Toronto Star and thestar.com, each property of Toronto Star

For Sportium, most organized sports are cancelled, and public recreation facilities are closed. On Tuesday, the company filed for protection under the Bankruptcy and Insolvency Act. The impressive store is the first of several expected for the province as Uniqlo expands further into Canada. Two Sail stores in Ontario – one in Vaughan and one in Etobicoke – will also close, following liquidation sales that are set to begin soon (both banners have reopened in Quebec and Ontario after spending roughly two months closed due to COVID-19). The content on this website is protected by the copyrights of Retail Insider Media Ltd. or the copyrights of third parties and used by agreement. Save my name, email, and website in this browser for the next time I comment. SAIL operates 14 standalone large-box stores with eight of those locations in the province of Quebec and six in Ontario.

ft. Sportium store. Retail Insider reported in August of 2018 that SAIL was investing $40 million into the company which saw three new stores, a new warehouse, and 300 employees hired. Copyright owned or licensed by Toronto Star Newspapers Limited.

The company’s total debt exceeds $100 million according to filings, with annual sales for its operations of about $300 million. rights reserved.

Regardless of being open, public health officials continue to advise against travelling between regions, in order to prevent the spread of COVID-19 from larger urban centres to smaller communities that may not be able to handle the toll of an outbreak. SAIL Outdoors Inc. said that this will allow it to obtain necessary support during the implementation of its restructuring plan. On Thursday, the company revealed that repositioning would include closing all four Sportium stores, closing the banner for good (its ecommerce site will continue operating for “a while,” a press release said). The company saw its footprint grow to well over 1-million square feet and plans for further expansion were in place. Sail stores in Vaughan and Etobicoke will close as part of the restructuring, while the Sportium brand will be eliminated — liquidation sales will start at locations in Quebec City, St-Hubert, Laval, and Kirkland in a few days, CP reported. The Ephemeral flagship launched on Toronto's Queen St. W. with plans to move to Los Angeles in the spring. “Unfortunately, the consequences of the pandemic, such as the closure of stores for two months, have added further pressure on our cash flow and financial health. Consumer spending in many segments is expected to be sluggish in the months to come and as a result, retail sales for many will continue to suffer.

MEC has remodelled stores and continued to expand its operations in Canada, while French sports retailer Decathlon – which operates similar large-format stores – has opened stores in Quebec and Ontario since entering the market in 2018.

ft. Sail location and 70,000 sq. Then came French sports retailer behemoth Decathlon, which is looking to open stores across Canada as part of a significant expansion. *This story has been updated since its publication date to reflect the confirmed store closures, including all Sportium stores and two SAIL locations. Canada's Most-Read Online Retail Industry Publication.

National Bank broadens its effort for healthcare workers, Buick wants to get a lift from Tessa Virtue, Fountain Tire shifts gears to drive trust in mechanics, IKEA inspires little acts that have a big environmental impact. We understand your decision to use an ad blocker, however Strategy journalism takes time and funding... Subscriptions and advertising are both necessary to fund the journalism we bring to you. In addition to the challenges presented by the pandemic, both Sail and Sportium faced new competition in recent years.

Retail-Insider reports that the company’s total debt exceeds $100 million, according to its filings. expressly prohibited without the prior written consent of Toronto

The stores will close after liquidation sales and the e-commerce websites (Sail.ca and Sportium.ca) will continue to operate. The real estate arm will transform some stores into mixed-use properties featuring offices, housing, entertainment, and retail space. SHARE: What led to Le Chateau closing its doors?

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