Educational retailer Scholar’s Choice files for creditor protection, closes all but three retail outlets
London-based retailer Scholar’s Choice is closing all but three of its stores as part of a restructuring of its operations to focus on its e-commerce and catalogue business.
Canada’s largest and oldest seller of educational toys, teaching materials and children’s furniture filed for creditor protection through a notice of intention to propose a reorganization plan to restructure the company.
The company, a division of Educator Supplies Ltd., says it will close nine locations in Ontario, three in Alberta and one in Nova Scotia.
The three remaining stores will act as regional sales and distribution centres to support the shift in the business.
The locations to remain open will include its head office in Londonas well as stores in Winnipeg, Manitoba and Moncton, New Brunswick.
According to CEO, Scott Webster, says with fewer brick and mortar locations, the company will be more nimble and able to focus on providing a better experience for its customers.
“The impact of the Covid-19 pandemic has had a catastrophic effect on the Canadian retail sector,” said Webster. “It has forced many businesses to make adjustments to survive the unforeseen events and Scholar’s Choice is no exception. Given the current climate we felt it was important to be proactive in shaping the direction of the company for the future.”