DAVIDsTEA, the tea phenomenon that started here in Montreal, announced on July 8 that it will be closing a significant amount of stores in Canada and the U.S. and move to a more online-focused business model.
The company filed for protection under the Companies' Creditors Arrangement Act (CCAA), which is set up to help companies avoid bankruptcy when they cannot afford to pay their debts.
As always, we will continue to brighten your day with positivitea, while providing the customer experience you know and love.
Although it cannot confirm which stores will be closed, the company says they "may ultimately close a significant number of stores."
Gift cards and their "Frequent Steeper" rewards program will be honoured.
No products will be lost as a result of the filing.