U.S.-based owners of Town Shoes to tighten all 38 stores in Canada by January

DSW Inc. says it will shiver a Town Shoes Ltd. code and tighten a 38 stores, all in Canada.

Town Shoes was initial combined in Toronto in 1952 by businessman Leonard Simpson.

Now formed in Ohio, DSW says augmenting foe in a shoes marketplace and “significant” handling waste are to censure for closing the stores, effective by a finish of a financial year, in January.

About 400 Town Shoes workers are approaching to be affected, though DSW hopes to find them choice practice through its Shoe Company, Shoe Warehouse and DSW brands.

DSW purchased a 49.2 per cent seductiveness in Town Shoes from Alberta Investment Management Corp. and other minority shareholders in May 2014 for $75.5 million and picked adult a remaining interest in a association in May 2018 for $44.7 million.

Article source: https://www.cbc.ca/news/business/dsw-inc-town-shoes-canada-1.4803058?cmp=rss