An Ontario court has granted Factory Direct permission to liquidate its stores after the retailer found the business to be “no longer viable.”

Court documents show the discount electronics and home goods store wished to close its 14 stores across the province as it began to wind down business.

Factory Direct reported a simultaneous decline in sales and increase in costs that led to operating losses of around $1.7 million in an 11 month period.

The retailer is pointing to inflation creating a fall in demand for its products, that include many items largely considered to be non-essential such as televisions.

It additionally notes that it has seen increased competition as more online marketplaces and wholesalers launch direct-to-consumer businesses.

The business, which has been in operation since 1995, employs around 200 people who will be terminated as locations begin to close.

There are Factory Direct locations currently open in Hamilton, Brantford and Niagara Falls.

This report was created with files from The Canadian Press 

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