The new year is just around the corner, and the outlook remains gloomy for many retailers in Canada as more closures are likely to happen due to the COVID-19 pandemic.
Lisa Hutcheson, a managing partner with the global retail consulting firm, J.C. Williams Group, said, “Retailers weren’t prepared for what lay ahead in March. It happened all so quickly, nobody could have prepared for it.”
According to retail experts, brands that were already vulnerable before the pandemic were the ones who went down first, and if 2020 didn’t hurt them, 2021 likely will.
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