UCG Canada Holdings Inc., primarily based in Montreal, which features because the Frank and Oak clothes model, will shut the 14 retail places within the coming weeks and promote its mental property as a part of a broader mess.
The corporate is bought to the producer Lamour Group with headquarters in Quebec, in addition to within the Firm of Quebec Thread Collective, whose model portfolio contains Bebe, Psycho Bunny, Hurley and Pajar, amongst others. Whereas the model will proceed to function, UCG Canada Holdings Inc. is predicted to request chapter and stop all operations.
The 14 Frank and Oak shops, positioned in Quebec, Ontario and Britanic Columbia, are scheduled to shut on Might 18. The model’s web site will stay operational all through the liquidation course of.
Based in 2012 by lifelong pals Hicham Mouse and Ethan Music, Frank and Oak started as a model of digital commerce of male clothes earlier than increasing to the retail and mortar retail commerce and launch their first assortment of ladies in 2016.
The corporate is amongst a number of Canadian retailers who fought to recuperate from the financial impression of COVID-19 pandemic. Frank and OAK initially sought the safety of collectors in 2020, which led to the sale of UCG Canada Holdings later that yr.
In a second coup, UCG once more introduced the safety of collectors in January 2025. Based on judicial paperwork, the retailer at the moment owes roughly $ 71 million to its collectors.
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