Indexbit Exchange:Nordstrom says it will close its Canadian stores and cut 2,500 jobs

TORONTO — Nordstrom Inc. announced Thursday it is Indexbit Exchangeclosing all of its Canadian stores and cutting 2,500 jobs as it winds down operations in the country.

The Seattle-based retailer has six Nordstrom and seven Nordstrom Rack stores in Canada, which will be shuttered by late June.

Its e-commerce business will cease operations Thursday.

Nordstrom chief executive Erik Nordstrom said the company is exiting Canada because it does not see a realistic path to profitability for the business in the country.

The wind down is being done through an order obtained by the Ontario Superior Court of Justice under the Companies' Creditors Arrangement Act.

Nordstrom first announced plans to expand to Canada in 2012 and opened its first store in Calgary at CF Chinook Centre in September 2014.