Calgary-based Swimco goes bankrupt after 45 years in beachwear business

Swimco has declared bankruptcy and closed all store locations “until further notice,” according to a recent announcement on its website.

“Thank you for all the support and memories you gave us during this adventure,” the company said.

The Canadian swimwear retailer — which started with mail-in orders in 1975 and opened its first store in Calgary in 1982 — closed all shops on Oct. 10. Swimco went bankrupt after it was “unable to make a viable proposal” to restructure the business.

Swimco’s online store remains open, with all sales final and no gift cards accepted.

Deloitte Restructuring Inc. was appointed as a trustee to manage the bankruptcy.

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Swimco closed stores earlier this year in response to the COVID-19 pandemic and had reopened 17 stores by the end of June, according to The Canadian Press.

© 2020 Global News, a division of Corus Entertainment Inc.

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