We now have Sears and Kmart USA coverage!

Getting nervous about Sears and Kmart USA? You're not alone! GSA now has coverage on offer for both companies - but its going quick!

Call us for more information:

514-939-6226

Read about it:
Kmart's sales have fallen off a gigantic cliff
Sears Closing Hundreds of Stores, Many Kmart Stores going out of Business as Well

Nine West goes the way of Target, Jacob, and Parasuco

Earlier this week, Toronto-based Sherson Group Inc, owner of Nine West in Canada, has filed for bankruptcy protection. The shoe distributor is owner of 48 Nine West retail spots in Canada, the closures of which could leave a large hole in the footwear retail world.
While the company may be able to restructure, shoppers throughout the country are concerned for their favorite footwear. The financial difficulty comes on the heels of many other Canadian apparel retailers in Canada filing for bankruptcy - Mexx Canada, Bikini Village, Target Canada, Smart Set, Jacob, Parasuco, etc.

Here are some of the top stores covering the bankruptcy, (click on the links for stories from their sources):

Nine West store owner in Canada files for bankruptcy protection - CBC

Nine West stores caught in bankruptcy protection - The Globe and Mail

Parent Company of Nine West's Canada Stores Headed for Bankruptcy - Footwear News

Nine West Shoe Store Owner Files For Bankruptcy Protection - Huffington Post Canada

Financial Post Article Features GSA in Entrepreneur Section

Financial Post features GSA in an article in their Entrepreneur section!
CLICK HERE TO READ FULL ARTICLE

RIAC Reports on GSA Opening in Ontario

RIAC (the Receivables Insurance Association of Canada), has graciously posted a blog about our offices opening in Ontario.

CLICK HERE TO READ RIAC BLOG

 

CLICK HERE TO READ RIAC BLOG

2014-2015 Quebec Fashion Bankruptcies

So many Quebec clothing companies have gone bankrupt (what we in Canada call CCAA),  in the past year, its hard to keep track.

Not only does each company cease to exist in its current form, choosing either to restructure, sell, or close its doors forever, it affects everyone else in the industry as well. Suppliers, manufacturers, import/exporters, distributors, designers, etc, are all touched each time a major player in the fashion industry goes under.

2014-2015 was a difficult year for retailers and wholesalers alike, and a non-comprehensive list of just a few of the best known names to fold this year reveals a challenging landscape.

2015

Bikini Village

Imperial Pants

Parasuco

Rhino Freedom

2014

Bedo

Boutique de Mode Dahlia

Boutique Jacob

Boutique Onze

Boutique Plato

Lana-Lee Fahions

Limité

Mexx

Modes Cazza

Twin Heart Clothing

If you are a supplier, wholesaler, distributor, importer/exporter or service provider in the retail and fashion industry, you might want to consider your options. Take a look into trade credit insurance, and keep your business safe.

www.gsabroker.com

GSA, Canada's largest specialist trade credit insurance brokerage is now serving Ontario!

If you're a manufacturer, importer, exporter, service provider, or distributor, ask about receivables insurance today

It's protection that could save your business

Please contact Ron Magee, our Ontario broker

T: 905-235-5523

C: 416-884-0254

F: 1-866-731-3099

Email: rmagee@gsabroker.com

www.gsabroker.com

Questions About Credit Insurance?

 

Do you have questions about trade credit insurance? 

Think it might be too expensive for your company? 

Are you anxious about the current retail climate? 

Have you had a few bad losses? 

One of our expert brokers will be happy to visit you at any time to discuss your options, free of charge. We can also schedule information sessions and presentations for larger firms or associations.

Call us today for a free consultation, free quote, or to make an appointment to meet with one of our expert brokers.

514-939-6226

www.gsabroker.com

With more than 20 years in the business, we are the largest specialist trade credit insurance brokerage in Canada. We can help you grow your business safely and without undue risk.

The Story of Target Canada: From Arrival to Disaster

Target Arrives in Canada

Amid speculation around prices, competition and the retail industry climate; Target begins its journey across Canada, projecting the opening of 150 stores by the end of 2017

Target's arrival in Canada a game-changer for retailers at home and afar

December 11, 2012

www.canadianbusiness.com

READ ARTICLE

Canadian Tire, Loblaw in 'battle mode' ahead of Target arrival

February 17, 2013

www.theglobeandmail.com

READ ARTICLE

Target arrives in Canada

March 5, 2013

www.news1130.com

READ ARTICLE 

The Problems Begin 

The retailer endures mounting criticism for its Canadian operations. Lack of stock, product selection, pricing problems, and disorganization rank high on the list of complaints

Target's trouble stocking shelves due to outdated system

March 5, 2013

www.thestar.com

READ ARTICLE

Target Canada still plagued by price perception problems as sales fail to meet expectations

October 30, 2013

www.business.financialpost.com

READ ARTICLE

Target Canada's failed launch offers lessons for other retailers

July 21, 2014

www.cbc.ca

READ ARTICLE

Target Lowers Outlook Amid 'Continuing Train Wreck In Canada'

August 6, 2014

www.huffingtonpost.ca

READ ARTICLE 

 The End of Target Canada

In January 2015, Target Canada files a notice to its creditors of an intention to commence court-supervised restructuring proceedings (C.C.A.A., Canada's equivalent to Bankruptcy), and begins preparations for its exit from Canada and the closure of all Canadian operations.

Litany of problems pushes Target into giving up on Canada

January 15, 2015

www.chicagotribune.com

READ ARTICLE

Target to Exit Canada After Two-Year Effort Fails - 5th Update

January 15, 2015

www.nasdaq.com

READ ARTICLE

Target Corp: A timeline of the retailer's failed Canadian experiment

January 15, 2015

www.business.financialpost.com

READ ARTICLE