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BOUTIQUE JACOB TO LIQUIDATE: The women’s specialty chain owned by the Joey Basmaji family in Montreal, operating under the name Boutique Jacob, will liquidate.
The operation — which has 92 stores under the Jacob, Jacob Outlet and Jacob Liquidation nameplates — had restructured operations and exited Canadian bankruptcy court protection in 2011.
The decision to liquidate now was made after the company said it failed to find new financing. The company added in a statement that its business was pressured from “international competitors.”