Scholar's Choice Announces Restructuring Plan
LONDON, ON, July 10, 2020 /CNW/ - Scholar'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 operations servicing childcare centres, schools, teachers and parents across Canada.
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 to shift focus to its e-commerce and catalogue operations. The remaining three retail stores will act as regional sales and distribution centres to support the shift in business to an online-first environment. These 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 https://info.scholarschoice.ca/closing-locations
"The impact of 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."
The company said the restructuring is expected to have very little impact on Scholar's Choice catalogue and web customers as this business will continue to operate unaffected. Additionally, customers can access the new scholarschoice.ca website and all stores across Canada are now open with closing sales to begin July 10th 2020. Gift cards can still be redeemed in-store or online. For consumers in areas where Scholar's Choice stores will be closing, the company encourages customers to visit scholarschoice.ca or visit the local store in the coming weeks to take advantage of store-closing sale pricing. All SC Reward members will receive an additional 10% off the discounted pricing.
About Scholar's Choice
Scholar's Choice has been serving customers across Canada for over 80 years. We are proud to be the oldest and largest distributor of educational toys, teaching materials and early childhood furniture and toys in Canada. Family owned and operated by Scott and Cindy Webster who bring passion and commitment to everything the Scholar's brand touches with a vision to give every child a reason to love learning, so they can achieve their hopes and dreams. The Scholar's Choice team across the country is dedicated to helping children achieve their full potential.
SOURCE Scholar's Choice
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