Ben Moss Jewellers Shuttering Stores

Ben Moss Jewellers (Winnipeg, Canada) announced that it will be closing all 54 of its stores and is launching going-out-of-business sales. The retailer has been selling mid-to-high-priced jewelry since 1910, according to Chain Store Age.

After receiving creditor protection, Ben Moss Jewellers announced a restructuring of its operations last May. Chief restructuring officer Naveed Manzoor said that ultimately, shuttering all stores “is the best course based on the challenges we are facing.”

Industry experts cite a weak Canadian dollar as well a soft economy in Western Canada as possible causes.