Stokes Inc. begins restructuring to strengthen business viability

Stokes Inc., an independent tableware and kitchenware retailer, has announced a strategic restructuring plan under the Companies’ Creditors Arrangement Act (CCAA) to ensure long-term profitability. The company aims to streamline operations, reduce its retail footprint, and focus on e-commerce.

Stokes plans to close less profitable stores while maintaining key locations in Québec and Ontario, alongside its Montréal head office. Approximately 500 employees will remain after the process.

Despite challenges posed by changing retail dynamics and economic pressures, Stokes will continue operations without interruptions and deliver consistent customer service. Ernst & Young Inc. will oversee the CCAA process as monitor, while FAAN Advisors Group Inc. serves as chief restructuring officer.

Founded in 1935, Stokes operates 95 stores and an online platform, offering products under brands like Stokes, Thinkkitchen, and Remy Olivier.