An Ontario court has given Factory Direct permission to liquidate its stores as it begins winding down the business. The retailer has two Ottawa locations, with one on Merivale Road and one in Gloucester.
Court documents show the discount electronics and home goods retailer wanted to close its 14 stores in the province because it has found the business is “no longer viable.”
Factory Direct says it has experienced declining sales and increased costs that led to operating losses of about $1.7 million in the 11-month period ended Nov. 30.
(Sponsored)
How The Ottawa Hospital uses AI tools to boost health outcomes and streamline clinical efficiency
Dr. Douglas Manuel says it all began with the Ottawa Ankle Rules algorithm, a set of clinical guidelines developed in the early 1990s by The Ottawa Hospital’s Dr. Ian Stiell
Local businesses face hiring obstacles due to immigration pullback, flawed screening
In his 39 years of practicing immigration law, Warren Creates (a rare Law Society Certified Specialist) has never seen an environment so challenging for employers looking to hire workers from
The Vaughan-based retailer says inflation has resulted in falling demand for its products, which include many non-essential goods like televisions.
It also notes that it has seen increased competition as more online marketplaces and wholesalers launch direct-to-consumer businesses.
Factory Direct, which was founded in 1995, has about 200 employees who will be terminated as business operations wind down.
