A popular Kelowna shoe store will be closing.
ALDO’s Orchard Park mall location is being axed as part of the company’s restructuring process, which was announced in response to the COVID-19 crisis.
No date for the closure has been decided, an ALDO spokeswoman told KelownaNow.
“In the meantime, the store remains open for liquidation,” she added.
It is unknown how many jobs will be lost as a consequence of the closure.
In May, ALDO’s CEO David Bensadoun said recent improvements in the company’s fortunes were wrecked by the pandemic.
“It is no secret that the retail industry has experienced rapid and significant change over the last several years,” he said at the time.
“We were making strong progress with the transformation of our business to tackle these challenges; however, the impact of the COVID-19 pandemic has put too much pressure on our business and our cash flows."
The firm filed for protection under the Companies' Creditors Arrangement Act (CCAA) to “preserve the company for the long term and survive through this challenging period.”
Bensadoun added: “With our deep fashion footwear heritage, experienced leadership team, extensive omnichannel capabilities and loyal customer base, we firmly believe that we will emerge from the restructuring process and from the challenges posed by the COVID-19 pandemic.
“We will come out stronger and well-positioned to continue leading the way in fashion retail.”
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