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Peso closes its doors | Quebec Journal

Bizu jewelry and accessories stores are closing.

according to EnBeauce.comCiting a confidential source, staff reportedly heard the news yesterday.

There were about 50 branches in the chain, which was shielding itself from its creditors in October 2020. By spring 2021, 24 of its 85 stores had closed in hopes of getting the business back on track.

Bizou, which employed 400 people at its height, has reduced its teams to 325 employees during the restructuring. The company, headed by Marcel Labrique and owned by the Labrique family, racked up $10 million in debt when it placed itself under bankruptcy and insolvency law protection.

The loss of customers associated with restrictions and the conversion of purchases to digital could have caused financial difficulties for the trade. The closure of operations in France in 2019 also resulted in significant losses.

Founded in 1982 in Sainte-Marie-de-Bose, Peso International has made no public announcement of new closures, and employees have reportedly learned of the news of their dismissal without notice.

calls and emails from Record The main office went unanswered. This morning, customer service was still responsive, but the employee we spoke to didn’t seem to know anything. This afternoon, phone calls went to voicemail.

Calls made in the afternoon to branches in Montreal, Quebec and Saguenay rang into the void.

The trustee Ernst & Young who accompanied Peso on its restructuring and presentation to creditors had not been attached to the file for several months and was unaware of the sad outcome of the shops when we contacted him.

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– In collaboration with Philippe Langlois and Dominique Lelivre

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