On Jan. 7, 2025, Canadian company Comark Holdings Inc. stated they will be shutting all their Ricki’s and Cleo stores. The company has recently filed for creditor protection, and as a result 75 Ricki’s stores and 54 Cleo stores will be closing down.
The reason for these massive closures stems from a loss of revenue from factors such as the COVID-19 pandemic, a cyberattack in 2021, and fierce competition from fast fashion retailers.
This is not the first time Comark Holdings Inc. has filed for creditor protection. They filed in 2015 and 2020, respectively.
Ricki’s was founded in 1939 and has been in operation for 86 years. Cleo originally opened in 1979 under the name Irene Hill before switching to their current name in 1994. However, after 46 years of retail service, they will be closing their doors for good.
Bootlegger, their sister store, is being downsized; Comark Holdings Inc. is actively looking for a buyer to avoid closing the store altogether.
At the time of this publication, Ricki’s and Cleo remain open until further notice; no closing date has been announced.
Rachel is working towards a BA with a concentration in English and Theatre. She has been employed at The Cascade since Fall 2021 as a Staff Writer and a Jr. News Editor. Currently, she is the sectional News Editor and enjoys meeting and interviewing people as well as taking long walks in nature. Rachel also likes to stay up to date on the latest trends and informs students through her fashion column entitled Campus Fashion.
