Bath products boutique chain Dans un Jardin shuts down

23 November 2018 Authored by Consulting.ca

Thirty-five years after opening in Quebec, Dans un Jardin has filed for bankruptcy. The bath products chain will close 55 boutique locations, as well as the manufacturing plant of subsidiary Art de Vivre Fabrication in Boucherville, QC. The firm’s insolvency proceedings are being handled by Montreal-based accounting and consulting firm Richter.

Buffeted by insurmountable financial difficulties, bath products retailer and manufacturer Dans un Jardin filed for bankruptcy on Monday. According to a statement from the firm, increased competition, significant decreases in sales, and an unfavourable cost structure ultimately brought the company to its knees.

Despite cost reduction initiatives, including cuts to management salaries and the closing of the least profitable locations, the company was not able to turn things around.

“Since the recovery efforts undertaken by the Companies in recent years have not paid off, the shareholders have come to the conclusion that the only possible option is to cease operations and proceed with orderly liquidation,” said a statement from Dans un Jardin. “It is with regret that we announce, after 35 years in business, the closure of our stores and our manufacturing unit located in Boucherville.”Bath products boutique chain Dans un Jardin shuts downThe Quebec company has 55 boutique locations, as well as 600 sales points for its products across Quebec and Canada. It employs 250 people year-round, and 600 during the peak holiday season.

Dans un Jardin’s stores will remain open during the liquidation process, which will extend through the holiday season. The company will be holding warehouse sales in Quebec City, Longueuil, and Gatineau to liquidate inventory. Management expects the liquidation process to conclude by January 2019.

Accounting and consulting firm Richter is handling Dans un Jardin’s insolvency proceedings. Founded in Montreal in 1926, the firm offers a full suite of advisory services, including audit, tax, growth strategy, digital transformation, risk advisory, litigation support, and turnaround and restructuring. The company opened its Canadian insolvency and corporate restructuring division in 1971, and its US financial restructuring arm in 1998. Richter has 500 professionals working from offices in Montreal, Toronto, and Chicago. 

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