Jacob (clothing retailer) attributed its woes were pinned on entries by international retailers into the Canadian market, including H&M and Zara, it was also negatively impacted by "surgical shopping", a gap in the retail market increased during the recession, pushing purchasers to high end or value products, as opposed to middle market. Gap and Sears Canada were cited as casualties. The general manager of Yorkdale Shopping Centre forced the company to close its location in the mall, apparently struggling, in order to allow an outlet of American retailer J. Crew to open. On May 6, 2014 the retailer declared bankruptcy; the company would
Globus (clothing retailer) plans to expand to a much larger number of stores, such as 150. The chain was run by Ved Prakash Arya from its founding until March 2004. Currently, it is run by Vinay Gajanan Nadkarni, who serves it as the Managing Director and CEO. Nadkarni, who took over from Arya in 2004, opened the 36th store in February 2013. Kareena Kapoor became the brand ambassador in 2008 and planned to launch her own clothing line with the store. In 2007, Globus created the world's largest Christmas stocking, which was 111 feet tall. Globus (clothing retailer) Globus Stores Private Limited is