Northern Reflections Starts Fresh with JAMCO Capital Ownership

Canadian women's retailer poised to emerge stronger and ready for growth after restructuring

TORONTO, March 24, 2021 /CNW/ - Northern Reflections Limited ("Northern Reflections" or the "Company"), a leading provider of women's fashion, announced today that it completed a corporate and financial restructuring with JAMCO Capital Inc. ("JAMCO"), a leading venture capital firm, solidifying a positive go forward plan for the 35-year-old Canadian retailer.

The restructuring establishes a foundation for Northern Reflections to further enhance its brand position within the women's apparel arena, positioning the Company as leaders in their retail market segment. Under the direction of JAMCO's new ownership and with a secured capital investment therefrom, the Company will be able to maintain its 135-store retail footprint from coast to coast along with its approximate 800 jobs in Canadian communities.  Furthermore, JAMCO's ecommerce know-how will enable Northern Reflections to enhance its growing web-based business at www.northernreflections.com.

"This has been a collaborative achievement that brought together all our stakeholders: our dedicated employees, manufacturers, suppliers, landlords, vendors and others," said Lalonnie Biggar, president of Northern Reflections. "Like so many other retailers, COVID-19 brought unforeseen challenges to our operations. Now, thanks to the significant financial support of JAMCO, we are set up for success as we emerge from this period as a stronger, more efficient and better focused organization." 

"We are proud to have helped Northern Reflections emerge from these difficult times and not only continue to operate, but to do so in a way that will enable it to get back on track and continue on its historical growth trajectory in terms of both bricks and mortar retail and online sales," said Christopher Kape, president of JAMCO Capital. "Northern Reflections has been a mainstay in the Canadian retail landscape for decades, and this restructuring event ensures it will continue to bring its much-loved ladies wear to Canadian women across the country for years to come."

About Northern Reflections Ltd.

Founded in 1985, Northern Reflections delivers moderately priced fashions nationwide, strategically focused on the largely underserved demographic of women aged 45 and over. The brand has evolved through the years as stylish and comfortable apparel for multiple occasions that are figure flattering for a mature silhouette.  The Company's talented in-house design team creates unique on-trend collections that are produced in easy to care for fabrics with a focus on sustainability and fit. 

Northern Reflections' store associates are style experts who help coordinate, accessorize and build outfits, or entire wardrobes, that meet its customers' needs. Whether shopping online, by phone or in person, its customers can always count on a commitment to an honest and friendly shopping experience.  While the Company's business has grown and fashions have evolved over the years, the vision has remained the same since the first day it opened its doors: Northern Reflections is devoted to its customers, passionate about its brand, and inspired by its people.

About JAMCO Capital Inc.

JAMCO Capital Inc. is a family office venture capital firm actively investing its own capital and operating knowledge in a diverse group of companies and investments. JAMCO connects businesses with the capital they need to grow and thrive. JAMCO's intention is to build its investments in one of two ways: either on an intergenerational basis to create a lasting impact on the lives of its partners, its employees, its families, and its community; or, on a time limited basis to create as much value as possible and then exit a transaction.

For further information:

Christopher Kape, President
JAMCO Capital Inc.
[email protected]
www.jamcocapital.com

SOURCE Northern Reflections Ltd