DavidsTea has only renegotiated 18 of its leases for Canadian stores and is closing down the other 82.
In July, the company announced in a release it was applying for creditor protection with a plan to avoid bankruptcy by moving to primarily online commerce.
“Today, our customers and stakeholders have a better picture of what DAVIDsTEA will look like in the near future,” said Herschel Segal, Founder, Chairman and Interim CEO of DAVIDsTEA.
“Our decision to reopen these select stores is consistent with our objective to create a leaner, more efficient company, positioned for long-term growth.”
DavidsTea originally had 224 storefronts. It closed down all 42 stores in the U.S. and 82 stores in Canada
