SAIL Files For Bankruptcy Protection

Just after finally re-opening their stores amidst the COVID-19 pandemic, SAIL has now filed for bankruptcy protection. CEO Norman Decarie said it was due to the weeks of store closings which has put financial pressure on the company’s status.

“For several years now, the retail industry has been undergoing a major transformation characterized, among other things, by an increase in online sales and heightened competition. Unfortunately, the consequences of the pandemic, such as the closure of stores for two months, have added further pressure on our cash flow and financial health. This situation is forcing us to make major decisions to ensure the company’s sustainability.

This strategic decision is the best way to refocus and put our operations on a more solid footing. Our 100% e-commerce dedicated distribution centre, inaugurated last November, demonstrates our commitment to continue to innovate and evolve the company in line with the market and consumer needs”

— Norman Décarie, President and Chief Executive Officer of SAIL Outdoors Inc.

SAIL, which was founded in 1981, has 14 locations across Ontario and Québec and employs nearly 1,800 people. Hopefully during this restructure (which has no current impact on store openings), they will be able to succeed.

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