closing all 127 retail stores in 2015, including 36 in Canada. Jones New York
Jones New York, a multichannel retailer of women's sportswear, announced on 29 January that it will be closing all of its 127 retail stores in 2015, including 36 in Canada. The company, which like so many others recently has seen a change in its sales figures and trends, has decided to pursue strategic alternatives for the Jones New York brand. Thus, Jones New York will discontinue its wholesale business and close its retail locations over the course of 2015.
"Following a thorough strategic review of Jones New York's recent performance and outlook, we have decided to discontinue the Jones New York wholesale business and close all 127 Jones New York outlet stores," said Andrew Hede, Interim Chief Executive Officer of Jones New York in the official press release. "We recognize that the Jones New York brand is important to many loyal customers, and we are pursuing strategic alternatives for the brand."
For Canada, Jones New York is the latest in a line of brand-retailers that is pulling its business out of the country. In and since 2014 alone, Target, Mexx and Sony all announced that they will be closing their stores north of the American border.
Jones New York is a portfolio company of Sycamore Partners, a private equity firm based in New York. None of the other business units that were acquired as part of The Jones Group Inc. transaction are affected by the actions announced today by Jones New York.
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