Agnew Shoes, a 121-year-old mainstay of the Canadian footwear business, announced Friday that it is closing its 223 stores across Canada, citing a decline in business.
The company said it is in discussions with other Canadian and American retailers on the purchase of all or part of the chain.
"We have not been able to find a retailer that wanted the entire chain, so it is unlikely that Agnew will continue as a chain unto itself," Brian Lindy, vice-president finance, said in a statement.
Ontario Superior Court in Toronto approved the liquidation of the stores, operating under the names Agnew, Agnew Family, Agnew Surpass, Aggies, San Marina, 2BU, Solemate, Ashton, World of Shoes and Chaussures Vincent.
"During the store closing sales it is an excellent opportunity for bargain-conscious consumers to stock up on their fall and winter shoe needs," said Anton Caracciolo, chief operating officer of the liquidator, Chicago-based Hilco Merchant Resources.
"This sale is happening just in time for shoppers to stock up on all their back-to-school needs."