Canadian retailer Roots files for IPO, plans international expansion
TORONTO — Another Canadian clothing retailer, Roots Corp., wants to take its company public as it plans a massive North American and international expansion over the next several years.
For the heritage-fashion retailer the switch from being a private company for more than four decades comes against a challenging retail environment that’s seen numerous bankruptcies, and mass store closures and layoffs in recent years.
The company known for its poor boy style hats and woolly winter mitts that have adorned both Canada’s Olympic athletes and consumers has applied to list on the Toronto Stock Exchange under the symbol ROOT.
The retailer, which operates 120 stores in North America and has a partner running another 136 between Taiwan and China, is looking to open dozens of new locations.