Reitmans (Canada) Limited is a Canadian retailing company, specializing in women's clothing. The company operates several store brands, including Reitmans, Penningtons, and RW&CO.
Reitmans (Canada) Limited is a Canadian retailing company, specializing in women's clothing. The company operates several store brands, including Reitmans, Penningtons, and RW&CO.
Reitmans was founded in 1926 by Herman and Sarah Reitman, in Montreal, Quebec. The immediate success of the first store on Saint Laurent Boulevard prompted the Reitmans to open a second store which sold exclusively women's clothing. The founders' grandson Jeremy Reitman (who died in 2019) would later serve as chairman of the board and chief executive officer, with his brother Stephen Reitman as president and chief operating officer. By 2016, the company was active in 685 locations with stores in every province and two of three territories in Canada. For the fiscal year of 2015, net earnings were $13,415,000 on sales of $939,376,000. However, Reitmans Canada Limited sought protection under the ''Companies' Creditors Arrangement Act'' (the "CCAA") in May 2020 in order to facilitate its operational, commercial and financial restructuring. They subsequently closed their Thyme Maternity (54 locations) and Addition Elle (77 locations) stores over the summer of 2020. As at April 30, 2022, the Company emerged from protection and operated 406 stores consisting of 237 Reitmans, 92 Penningtons and 77 RW&CO. The company's stock was moved from the Toronto Stock Exchange to the TSX Venture Exchange.
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