home All News open_in_new Full Article

Frank and Oak seeks creditor protection after debt reaches $71 million

Major Canadian sustainable fashion brand Frank and Oak has filed for creditor protection for the second time and is seeking relief from a significant debt totaling $71 million.The brand, which was founded in 2012 and is known for its eco-friendly approach to fashion, filed the applications just before the holidays. The retailer has been owned by New York-based Unified Commerce Group (UCG) since 2020, and first sought creditor protection that year due to pandemic-related financial challenges.As a result, the retailer shut down its dedicated women's store on Queen West in July 2020. Court documents reveal that the brand owes $71 million to creditors, including landlords and textile businesses. In court filings, the company says it is continuing to face obstacles associated with the effects of the pandemic, and is considering options to possibly restructure its business. The CEO of UCG, Dustin Jones, acknowledged these struggles in a letter to creditors in...



This article describes how Canadian sustainable fashion brand Frank and Oak is seeking creditor protection for the second time. The main conceptual idea is that mounting debt, reaching $71 million, has pushed the brand owned by Unified Commerce Group to seek financial relief. The debt stems from various sources, including landlords and textile suppliers. The article mentions that the brand has faced financial challenges since the pandemic.

today 21 hours ago attach_file Economics
attach_file Other
attach_file Politics
attach_file Economics
attach_file Sport
attach_file Events
attach_file Transport
attach_file Other
attach_file Economics
attach_file Events
attach_file Transport
attach_file Other
attach_file Economics
attach_file Events
attach_file Other
attach_file Events
attach_file Other
attach_file Economics
attach_file Other
attach_file Economics
attach_file Other


ID: 15349866
Add Watch Country

arrow_drop_down