Frank and Oak is set to close its 14 retail locations amid financial difficulties exacerbated by COVID-19 and supply chain issues. A Montreal-based company, Lamour Group, has purchased the brand's intellectual property, with the Superior Court of Quebec approving the sale. Although UGC Canada Holdings Inc., the original parent company, plans to file for bankruptcy, Frank and Oak will maintain e-commerce sales for Canadian customers. The new management is considering options for potential relaunches in the future, despite the physical store closures and liquidation of existing inventory.
Frank and Oak is closing all 14 stores as part of a restructuring process, while continuing e-commerce sales and exploring future opportunities for the brand.
The Superior Court of Quebec has approved the sale of Frank and Oak's intellectual property to Lamour Group and Thread Collective Inc., ensuring the brand's continuation.
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