Montreal-based retailer Frank and Oak struggles with more than $70M in debt

Frank and Oak sign in front of Montreal store on January 8, 2025. (Hayder Mahdy, CityNews)

By Alyssia Rubertucci

Posted January 8, 2025 12:44 pm.

Last Updated January 8, 2025 12:48 pm.

Montreal-based retailer Frank and Oak is now more than $70 million in debt and has filed for creditor protection.

According to court documents, the creditors include Desjardins, Revenu Quebec and Shopify.

The clothing store and sustainable fashion chain also owes $1.7 million to the Canadian Revenue Agency and $3.5 million to the Canada Border Services Agency.

This is the second time Frank and Oak has struggled financially — in 2020 its parent company, Modasuite Inc., filed for bankruptcy in response to a challenging retail environment that worsened due to the COVID-19 pandemic.

Founded in 2012 in Montreal, Frank and Oak has grown with shops across Canada and it’s not yet clear if any stores will close.

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