Reitmans is set to close its only retail store in the Northwest Territories before the end of the month.
Longtime store manager Laura Mason confirmed to Cabin Radio that the women’s apparel store in Yellowknife will be closing on January 27.
“It’s a big blow to Yellowknife,” she said of the closure, thanking residents for their patronage over the years.
Mason said she was not authorized to speak about the reason for the store’s closure.
A spokesperson for Reitmans Canada Ltd told Cabin Radio in a statement that while its Yellowknife store will be closing “at the end of its lease cycle,” customers can still shop on the company’s website.
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“As always, we will continue to evaluate other viable store location opportunities in Yellowknife and we would be honoured to be back in the community in the future,” the company stated.
Reitmans, founded in 1926 in Montreal, is celebrating 100 years in business in Canada this year.
When the company first opened a store in Yellowknife is unclear. A Reitmans store was previously located in Centre Square Mall before it moved to its current location on Old Airport Road.
According to the company’s website, it operates 388 Reitmans, Penningtons and RW & Co stores across the country and employs around 5,000 people.
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Reitmans permanently closed all of its Addition Elle and Thyme Maternity stores in Canada in 2020 as part of restructuring under the Companies’ Creditors Arrangement Act. Executives said the business faced challenges during the Covid-19 pandemic. The company eliminated its chief operating officer role last year.
In its latest third quarter financial report, the company reported a 3.8-percent increase in net revenues to $194.9 million compared to the same period in 2024 and opened one new store.
Reitmans also reported a 57.1-percent decline in net earnings as the company invests in modernization efforts as part of its five-year strategy.
