The L’Oreal owned Cosmetics Company has announced that it is shuttering all of its Canadian locations.
Since entering the Canadian market in 2015, Nyx Cosmetics has enjoyed a continued period of growth and acceleration and has opened stores in Mississauga, Queen West Street in Toronto followed by further Toronto locations – CF Toronto Eaton Centreand Yorkdale Shopping Centre. The company then went on to open stores in Ottawa, Vancouver and Edmonton among others.
The current retail climate continues to be a challenge for many companies. Thousands of retailers have already vacated locations in Canada, due to a mixture of financial struggles and shifts is consumer behaviour.
Landlords remain optimistic that they may have less difficulty securing new tenants for the newly vacated Nyx locations given their typical sizes of around 800 to 1200sq ft.