DavidsTea is closing 82 Canadian stores
Insolvent beverage retailer DavidsTea is closing 82 stores in Canada and all 42 of its stores in the U.S. as it focuses on its e-commerce business and supplying grocery stores and pharmacies.
The Montreal-based company announced yesterday that it is sending notices to terminate the leases at the 124 stores to take effect in 30 days.
The move would affect about half of its workforce of nearly 2,500, including all 366 employees in the United States.
It will also seek more favourable lease terms for the remaining 100 stores in Canada and may permanently shut additional locations if landlords are unwilling to negotiate suitable leases.