Scholar's Choice Announces Restructuring Plan

LONDON,AON, July 10, 2020 /CNW/ -AScholar's Choice, a division of Educator Supplies Limited, today announced a strategic restructuring to reduce its footprint in the brick-and-mortar retail space while growing its e-commerce and catalogue operationsAservicing childcare centres, schools, teachers and parents across Canada.
Scholar's Choice Announces Restructuring Plan
As part of the restructuring, the company has filed for creditor protection through a Notice of Intention ("NOI") to propose a reorganization plan to better structure the company for future success. Scholar's Choice plans to close all but three of its brick-and-mortar retail locations toAshift focus to its e-commerce and catalogue operations. The remaining three retail stores will act as regional sales and distribution centresAto support the shift in business to an online-first environment.AThese centres will be in Winnipeg, servicing Western Canada, London (Head Office) servicing Central Canada and Moncton, servicing Eastern Canada and Quebec.View closing locations here"The impactAof the COVID-19 pandemic has had a catastrophic effect on the Canadian retail sector, said CEO Scott Webster. "It has forced many businesses to make adjustments to survive the unforeseen events and Scholar's Choice is no exception. Given the current climate we felt it was important to be proactive in shaping the direction of the company for the future. With fewer "brick and mortar" locations the company will be more nimble and able to focus on providing a better experience for its customers."
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