Frank and Oak to close all stores, sell intellectual property

Frank And Oak, a Montreal-based fashion retailer, is permanently closing all its physical stores and plans to sell its intellectual property. The decision was made as part of a Company Creditors Arrangement Act filing due to financial struggles. The brand intends to focus on digital sales and continue as an online-only platform. This shift aims to streamline operations and adapt to changing consumer behaviors focused on e-commerce. The company has been facing financial difficulties even before the pandemic, and the closures and sale are part of a strategy to address ongoing challenges.