REITMANS CHOPS JOBS, 2 BRANDS

Reitmans Canada is terminating its Thyme Maternity and Addition Elle brands and cutting 1,400 jobs as it restructures its business under creditor protection. The Canadian fashion retailer said Monday it would build its future on three premium brands: Reitmans, Penningtons and RW&CO through e-commerce and physical stores. “All of the efforts we put forth to turn these (two) brands around were derailed by the COVID -19 pandemic and, unfortunately, we can no longer afford the required resources to bring them back to profitability,” Stephen Reitman, CEO of Reitmans, said in a statement. In coming weeks, all of its stores will reopen according to government coronavirus guidelines, including the 77 Addition Elle and 54 Thyme Maternity stores. Reitmans will cut 1,100 jobs from its retail stores and about 300 jobs at its head office in Montreal.