Montreal-based Parasuco announced that it is closing all seven of its stores in Canada, as of today. The Parasuco Jeans Inc. business will continue selling online and through wholesale and private label.
“Parasuco Retail inc. has voluntarily filed under the Bankruptcy and Insolvency Act (Canada), as its stores have struggled in a changing retail environment,” the company said in a statement.
It continued, “The Parasuco label owes much of its success to its constant creative renewal; Mr. Salvatore Parasuco developed stretch denim, the sandblasting of jeans, and he was the first to acid wash jeans in Canada. The move towards a strengthened online presence will allow Parasuco Jeans Inc. to remain competitive as it strives to reach broader markets.”
The brand’s only New York store closed in 2010.
Parasuco was founded in Montreal by Salvatore Parasuco in 1975.