The challenges for Quebec-based retailer Groupe Bikini Village continued in the second quarter ended Aug. 2.
The company, an industry customer that operates 52 Bikini Village stores in Eastern Canada, said net sales declined 13% to CAD $9.9 million.
Same store sales declined 6.7%.
The company has been cutting costs to adjust to lower sales. However, its net loss widened to CAD $619,000 vs. a net loss of CAD $133,000 during the same period last year.
Group Bikini Village has embarked on a turnaround plan, but warned that its ability to implement the plan and for the business to continue as a going concern was dependent on it obtaining further financing through debt, equity raising, or strategic alliances.
Â
