Less than a month after giving restructuring another try, Quebec retailer Jacob is shutting down for good.
Elaine Zakaib resigned from the National Assembly on Sept. 29 and began her new job as chief of restructuring and vice-president of strategy and finance for Jacob on Oct. 1.
Evidently it did not work out.
On Oct. 21, the retailer issued a communiqué saying the company has put a halt to its restructuring plan. Instead it will liquidate all its inventory, both in retail stores and its online shop.
After being in business for 35 years, and entering creditor protection in 2010, the retailer filed for bankruptcy in May.
Before being elected in 2012, Zakaib had spent two decades working for the Quebec Federation of Labour Solidarity Fund.
