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Boutique Jacob relaunching operations with five Quebec stores

MONTREAL — Womenswear retailer Boutique Jacob is resuming operations, although on a much smaller scale. Family owners are developing a plan to relaunch the business with five stores in Quebec along with online operations after exiting seven months of creditor protection under the Bankruptcy and Insolvency Act.Jacob is abandoning any hope of rebuilding a national brand after closing 91 stores last year and shedding some 990 employees. Instead, it will focus on locations in Montreal, Quebec City and Sorel-Tracy where the company started 35 years ago. The stores, located in buildings owned by founder Joey Basmaji, have remained opened through the liquidation process.The company’s website just reopened with its only product being the popular Jacob perfume. But clothing collections will be added that are made mainly in Quebec and possibly elsewhere in Canada.Basmaji’s daughter, Cristell, said her father has no plans to add more stores but rather develop a new business model that makes sense in the current retail environment that has seen several chains close in recent months.She said creditors overwhelmingly accepted a proposal in December that provided them a “symbolic” payment. However, the company founder and main creditor was not repaid.The Canadian PressJacob will close its doors for good, despite an attempt to reinvent itself as a smaller chainCanadian fashion chain Boutique Jacob closing its doors across Canada read more

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