The Frank And Oak chain of clothing stores is the latest Montreal-based retailer to file for bankruptcy protection due to the impacts of the COVID-19 pandemic, although the company intends to continue to sell its products online.
Founded in 2012 by Hicham Ratnani and Ethan Song, Frank And Oak eventually opened 16 locations across Canada, including seven in Quebec and two in Montreal. While some of the chain’s boutiques reopened last month, including the one on Stanley St. in downtown Montreal, others, such as the St. Viateur E. location, remain closed.
“Like many brands and retailers, Frank And Oak has been significantly impacted by the COVID-19 pandemic, and as a result, has made the difficult decision to file a notice of intention to make a proposal (under the Bankruptcy and Insolvency Act),” says a company statement provided by a public-relations firm.
“In making this filing, the company intends to restructure its business and focus its efforts on strengthening the company’s growing e-commerce operation, which has always been at the core of the brand since its early days. Frank And Oak was born online and the pandemic brings an opportunity to refocus on its core digital strength.”
According to the provincial register of businesses, Frank nd Oak employs between 100 and 249 employees in the province.