Winnipeg-based jewelry chain Ben Moss closing doors across the country
Company says weak dollar, soft economy contributed to closure
After more than a century in business, Winnipeg-based jewelry chain Ben Moss Jewellers is closing its doors.
Going-out-of-business sales were announced at all 54 Ben Moss locations in Canada in a news release from Gordon Brothers Group on Friday. The sales began on Saturday.
In May the company announced that it was restructuring its operations after receiving creditor protection. Liquidation sales have already begun at 11 underperforming stores across the country.
"After considering all of our restructuring options, including selling all or part of the business as a going concern, we have determined that this is the best course based on the challenges we are facing," said Naveed Manzoor, the chief restructuring officer of Ben Moss, in the news release.
Ben Moss has been Canadian owned and operated since 1910.
The company was hit by the weak Canadian dollar over the past few years and a soft economy in Western Canada, Ben Moss obtained court protection several months ago and hired Gordon Brothers Group Canada to manage closing their stores, the release said.
The sales will include discounts up to 40 per cent off and store fixtures, furniture and equipment will also be available for sale at a later date, according to the release.
There is no word on when the doors will officially close.