DSW Closing 38 Stores

DSW Inc. (Columbus, Ohio) announced that it is closing of the company’s stores under its Town Shoes banner. All 38 of these stores are located in Canada and will be shuttered by the end of January, when its fiscal year wraps up.

According to Ottawa Citizen, the company is citing increasing competition and “significant” operating losses as reasons for the decision to shutter the chain. The company originally acquired a 49.2-percent stake in the chain in 2014 and purchased the remaining stake in May 2018.