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

Swimco has declared bankruptcy.
Swimco has declared bankruptcy. Getty Images

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.

Read more: Swimco to cut five stores, downsize headquarters under Bankruptcy Act creditor proposal

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

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Swimco closed six of its 25 stores earlier this year in response to the COVID-19 pandemic, according to Brett Bacon, Swimco’s operations manager.