CANADIAN MANUFACTURER / RETAILER: PARASUCO

A TREND I AM NOT LIKING, ANOTHER CANADIAN CLOSING

Once-hip Parasuco jeans brand closes all Canadian stores

Retail arm of Montreal denim brand files for bankruptcy and will lay off 80 staff as it closes seven stores.

By: The Canadian Press, Published on Fri Feb 06 2015

PARASUCO

MONTREAL — Parasuco Retail Inc. has filed for bankruptcy and will close all seven stores in Canada.

The once-hip jeans brand has one store in the GTA at the Square One Shopping Centre in Mississauga.

The Montreal-based denim retailer says it’s shuttering the stores immediately but customers can continue to purchase merchandise through its website.

Most of the stores are in Quebec. The closures will result in 80 layoffs.

About 70 employees who work for Parasuco Jeans Inc. will continue to be employed in Montreal, and will focus their efforts on wholesale, licensing and distribution.

Parasuco joins a list of retailers that are closing up shop in Canada, including Target Corp., Sony Corp., Mexx Canada, Smart Set and Boutique Jacob.

The Parasuco brand evolved in 1988 from the Santana Jeans brand started in 1975 by Salvatore Parasuco and became popular for its stretch, sandblasted and acid wash jeans.

http://www.thestar.com/business/2015/02/06/once-hip-parasuco-jeans-brand-bankrupt.html

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