Apple Inc. has announced a major leadership transition with longtime executive Jeff Williams set to step down from his role as Chief Operating Officer later this month. Sabih Khan, Apple’s current Senior Vice President of Operations, will assume the COO position in what the company described as a long-planned succession.
Williams, who has spent nearly three decades at Apple and played a pivotal role in shaping its global operations and health-focused product strategy, will remain with the company through the end of the year. During the interim, he will continue reporting to CEO Tim Cook and overseeing Apple Watch, Apple’s health initiatives, and the company’s design team—responsibilities that will transition to Cook upon Williams’ formal retirement.
A Legacy Built Over 27 Years
First joining Apple in 1998, Williams was instrumental in the launch of the iPod, iPhone, and Apple Watch, and has since overseen the development of Apple’s health platforms and led the design team. His tenure also included building one of the most sophisticated and resilient global supply chains in the technology sector, supporting Apple’s growth across markets in North America, Asia, and beyond.
“Apple wouldn’t be what it is without him,” said CEO Tim Cook in a statement, highlighting Williams’ contributions across product innovation, supply chain, and leadership. “Jeff’s true legacy can be seen in the amazing team he’s created.”
Khan to Lead Operations
Khan, a 30-year Apple veteran who joined the executive team in 2019, has been credited with overseeing the company’s supply chain during a period of global disruption and strategic reinvention. Under his leadership, Apple expanded its manufacturing presence in the United States, deepened its environmental commitments, and implemented advanced manufacturing technologies across its network of suppliers.
Cook praised Khan as a “brilliant strategist” whose operational expertise has helped Apple reduce its carbon footprint by more than 60 percent. He also noted Khan’s leadership style as values-driven and collaborative—qualities seen as vital to Apple’s next chapter.
Operations Experience Anchored in Sustainability and Scale
Khan’s scope at Apple has included global logistics, procurement, product fulfillment, and supplier responsibility programs aimed at worker education and rights. He has helped position Apple’s environmental manufacturing programs at the forefront of the industry, aligning operations with broader corporate sustainability goals.
Before joining Apple’s procurement team in 1995, Khan worked in engineering roles at GE Plastics. He holds dual bachelor’s degrees in mechanical engineering and economics from Tufts University and a master’s in mechanical engineering from Rensselaer Polytechnic Institute.
Looking Ahead
Williams’ retirement, which follows his 27th anniversary with Apple and 40 years in the tech industry, comes with plans to spend more time with his growing family. “Working with all of the amazing people at this company has been a privilege of a lifetime,” said Williams. “I think [Sabih] is the most talented operations executive on the planet. I have tremendous confidence in Apple’s future under his leadership.”
With Khan’s promotion, Apple continues its commitment to internal leadership development and operational excellence—core to its global product delivery model. The transition underscores Apple’s broader strategy to maintain organizational continuity as it moves deeper into new product categories and expanded health and wellness initiatives.
Rendering of a Ruby Liu store at Coquitlam Centre. Image: Ruby Liu
As the court-imposed July 15 deadline looms in Hudson’s Bay’s court-supervised restructuring, a key lender has asked the Ontario Superior Court to step in and halt what it describes as a costly and mismanaged wind-down. In a detailed motion, Restore Capital LLC has demanded that the company’s deal to sell up to 25 store leases to B.C.-based mall owner Ruby Liu be terminated and that the court install a “Super Monitor” to oversee the liquidation of what remains of the 355-year-old retailer.
The request underscores deepening frustrations from lenders who say their collateral is being squandered as Hudson’s Bay racks up millions in rent and professional fees tied to a deal that increasingly appears unlikely to succeed.
“Restore and Pathlight are just fed up,” said retail strategist Carl Boutet in an interview with Retail Insider. “They’ve been part of this saga since the beginning. At first, they stepped back when talks of receivership surfaced. Now, they’re saying ‘enough is enough.’”
Carl Boutet at Emsphere in Bangkok, Thailand, June 2025. Photo: Carl Boutet
Boutet says the underlying issue is the mounting cost and complexity of transferring leases to Liu. Restore alleges that Hudson’s Bay has incurred more than $18 million in unnecessary expenses, funds that otherwise could have gone to creditors. These include continued rent payments, consultant fees, and the removal of store signage.
According to court filings, Restore claims Hudson’s Bay has “frittered away” collateral and mismanaged the lease assignment process to such a degree that the appointment of a Super Monitor, or alternatively a full receiver, is now essential to protect creditor interests.
What Is a Super Monitor?
The request to appoint a Super Monitor is unusual, but not without precedent. Under the Companies’ Creditors Arrangement Act (CCAA), a monitor typically plays an advisory role, reporting to the court and overseeing restructuring efforts. However, in cases where management has lost the confidence of creditors or the court, the monitor’s powers can be expanded.
“In this case, a Super Monitor would have executive authority,” Boutet explained. “They wouldn’t just advise—they could actually act. That includes selling assets, terminating contracts, and more or less taking over operations.”
Restore suggests Alvarez & Marsal, the firm currently serving as court-appointed monitor, be granted these expanded powers. If not, they propose Richter Consulting Inc. step in as a receiver with full liquidation authority.
Liu Lease Deal Collapsing Under Landlord Opposition
The controversy centres around a proposed deal between Hudson’s Bay and Ruby Liu to take over up to 25 store leases in Ontario, Alberta, and British Columbia. While a smaller, court-approved deal involving three of Liu’s own Central Walk malls went through, landlords like Cadillac Fairview and Oxford Properties, have rejected Liu’s broader expansion plans.
Weihong (Ruby) Liu in Toronto, June 2025. Photo: Craig Patterson
“From the very beginning, we raised concerns that landlord covenants wouldn’t be met,” said Boutet. “And now, landlords are saying Liu hasn’t provided a viable business plan.”
The court filings confirm that Liu has struggled to secure landlord approvals, despite Hudson’s Bay spending millions to support the process. Restore estimates that between June 30 and August 15, Hudson’s Bay will spend an additional $7.5 million in rent and a large portion of $8.5 million in professional fees on the Liu deal alone.
Diminishing Returns and Legal Risks
Time is working against all parties involved. Hudson’s Bay’s inability to close the Liu transaction means stores remain in limbo, consultants remain on retainer, and rents continue to accrue. “This is money that’s evaporating daily,” Boutet noted. “And it’s money that should be going back to creditors.”
According to filings, Restore believes its only remaining path to recovery could be Hudson’s Bay’s pension fund surplus. It’s an option fraught with legal complexity and potential delays. “There’s a real risk that if the Liu deal isn’t wrapped up quickly, there will be nothing left,” Boutet warned.
Adding to concerns, Restore claims Hudson’s Bay failed to disclaim unassigned leases in a timely fashion and spent excessively on dismantling stores. “They acted like the money was theirs, not ours,” Restore CEO Ian Fredericks stated in an affidavit. “Our projected recoveries are now millions of dollars lower.”
A Timeline of Stalled Progress
Hudson’s Bay filed for creditor protection in March 2025. Since then, it has liquidated 80 stores and another 16 under the Saks Fifth Avenue and Saks OFF 5TH banners. While the initial court process provided some hope that select leases could be transferred and stores reimagined under Liu’s new concept, opposition and delays have stalled momentum.
“The creditors expected this would be signed, sealed, and delivered by now,” Boutet said. “Instead, we’re nearing the July 15 outside date with no resolution.”
July 15 marks the final court-set deadline for concluding the current Sale and Investment Solicitation Process (SISP). Without a court-approved path forward, Restore and other secured lenders appear poised to force the matter.
Weihong (Ruby) Liu, left, prepares to sign documents with Linda Qin at the Central Walk office at Tsawwassen Mills on Friday, May 23. Image: RedNote
Implications for Ruby Liu’s Department Store Vision
Liu, a Vancouver-based mall owner, had positioned herself as a successor to Hudson’s Bay in key locations across Canada. Her plans have included introducing a new department store concept under the ‘Ruby Liu’ banner, starting with the three Central Walk properties.
But this latest motion could mark the end of her ambitions to acquire the full portfolio of 25 stores.
“Honestly, it may be a blessing in disguise,” said Boutet. “She could now focus on her three confirmed locations and build something strong from there.”
Liu has previously expressed confidence that she could win over landlords if the court approves the lease transfer.
Lenders Signal Loss of Patience
Restore’s decision to go to court is significant for another reason—it marks a rupture in a relationship that stretches back over two decades. Restore played a pivotal role in helping take HBC private in 2019 and remained a key lender throughout the company’s recent chapter, including a $151 million loan issued in December 2024.
“They’ve been on this ride for a long time,” Boutet noted. “They probably don’t want to hear the words ‘Hudson’s Bay’ again for a very long time.”
The motion also highlights broader dissatisfaction among secured creditors with Hudson’s Bay’s wind-down strategy, noting that management and directors are no longer aligned with creditor interests.
“This isn’t just about leases,” said Boutet. “This is about how one of Canada’s most iconic companies is being dismantled.”
Pension Fund Surplus Could Become a Target
One of the more contentious aspects of the court filing is Restore’s suggestion that Hudson’s Bay’s pension fund surplus could be tapped for recovery. Pension funds are typically off-limits in restructuring processes, but surplus funds sometimes exist beyond what is needed to meet obligations.
“There’s always a debate over who that surplus belongs to,” Boutet explained. “Is it the pensioners, who could use it to preserve cost-of-living indexing? Or the creditors, who argue it’s part of the estate?”
Boutet also pointed out that HBC’s pension discussions are especially complex given that many of the company’s landlords, like Cadillac Fairview, are owned by the very pension funds that might be impacted. “It all comes full circle,” he added.
What Happens Next?
The Ontario Superior Court is expected to rule on Restore’s motion in the coming days. If approved, the appointment of a Super Monitor could significantly alter the trajectory of the wind-down.
“A Super Monitor could force a quick sale or liquidation of the remaining assets,” Boutet said. “It removes the option of further negotiation and essentially fast-tracks the end.”
For Ruby Liu, it may mean a shift in strategy that could possibly involve negotiating brand-new leases directly with landlords, outside the CCAA framework. For creditors, it could bring long-awaited clarity and recovery.
“Ultimately, everyone wants this resolved,” Boutet said. “But how it gets resolved, and who walks away with what, remains very much in question.”
KaleMart24 is gearing up for a sizzling summer with deals in place to open seven new locations, including making its market debut in Ontario, according to commercial real estate expert Tony Flanz of Think Retail.
KaleMart24, dubbed “the Whole Foods of the convenience channel”, is the brainchild of entrepreneur Oussama (Sam) Saoudi who is also the CEO and founder of Montreal-based Toro Beverages.
Oussama (Sam) Saoudi
The first KaleMart24 opened in Montreal in March 2024 with a 1,200-square-foot store in Berri-UQAM, the largest Metro station in the city. Today KaleMart24 has eight locations in and around Montreal, wrote Flanz on a blog on his company’s website.
The Think Retail team is helping the convenience store concept with its expansion plans.
“2025 is shaping up to be a transformative year for the brand. Think Retail is thrilled to work with Sam and his team on bringing his bold vision to life,” said Flanz.
“Up next, the plan is to open at least 20 locations in the next 12 months between Quebec and Ontario. In the meantime, confirmed openings include five stores in Quebec and two in Ontario.”
July – STATION MONT-ROYAL: 470 Avenue du Mont-Royal E MontrealGATINEAU: 306 Bd Saint-Joseph, Gatineau, QC BYWARD MARKET: 47 William St., Ottawa
August – PEEL STREET: 2025 Rue Peel, Montreal
September – PLACE BELL: 755 Boul. le Corbusier Laval, QC KITCHENER: 66 Weber St E Kitchener, ON GRIFFINTOWN: 110 Rue Peel suite 100 Montreal
Tony Flanz
“This is a timely concept that is truly making an impact with its target market: busy young professionals who prioritize making choices and purchasing products that are healthy for themselves and the planet. KaleMart24’s shelves and ready-to-eat offerings are carefully curated to meet the needs of a decerning customer base where quality is paramount,” said Flanz.
“As part of the ambitious expansion, the KaleMart24 team is seeking sites that range from 500 to 1500 square feet across Quebec and Ontario. In an exciting development, KaleMart24 will consider Calgary as a next market entry.”
Photo: Think Retail
“If you haven’t visited a KaleMart24 I recommend you do, it’s a delightful experience. The stores are fresh and inviting with a thoughtful design that reflects the brand ethos around sustainability. A fresh take on the classic depanneur, KaleMart24 is a modern retail experience with the latest checkout technology, 24/7 service as well as an attractive loyalty program.”
Craig Patterson and Ben Hertzman, President of Progress Luv2Pak and Gather Packaging, discuss the remarkable evolution of the Canadian packaging company since its founding in 1917. Hertzman shares how Luv2Pak began as a hat box factory supplying icons like Holt Renfrew and Hudson’s Bay, before his family acquired it in 1981 and expanded into gift boxes, bags, ribbons, and coordinated packaging programs for North America’s top retailers. By shifting from solely domestic manufacturing to global sourcing, the company adapted to retailers’ changing needs, establishing itself as a leader in premium retail packaging.
The conversation explores how pandemic-driven supply chain disruptions and skyrocketing freight costs inspired Luv2Pak’s bold decision to reinvest in local production. Hertzman details the launch of Gather Packaging’s state-of-the-art paper bag factory in Toronto, built to ensure exceptional quality and a reliable North American supply. The new facility reflects a commitment to making goods closer to where they’re consumed, while using sustainable materials and processes that meet the needs of modern retailers and eco-conscious consumers.
Patterson and Hertzman also examine how packaging serves as a vital extension of brand experience, both in-store and in e-commerce, acting as a “walking billboard” that reinforces identity and customer loyalty. Highlighting Luv2Pak’s longstanding partnership with Harry Rosen as an example of coordinated, high-quality packaging, Ben shares insights on balancing a 100-year legacy with constant innovation, and offers advice for retailers to stay nimble and invest in packaging that reflects their brand values in an ever-changing market.
Featured during this interview:
Ben Hertzman, President of Luv2Pak and Gather Packaging
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Background Music Credit: Hard Boiled Kevin MacLeod (incompetech.com). Licensed under Creative Commons: By Attribution 3.0 License. http://creativecommons.org/licenses/by/3.0/
In 2025, 48V inverters will revolutionise off-grid living, camping, and RVing. Off-grid villages need AC electricity to run their appliances, lights, and other devices. Direct current is transformed to alternating current via inverters. For off-grid building projects that need more power but don’t want to cope with lower voltage systems’ bulk and inefficiency, 48V Inverters are ideal. They prioritise energy efficiency, longevity, and versatility above other inverters. This article analyses the finest 48V inverters for RVs, campers, and off-grid setups in 2025, focussing on their features, possible technological capabilities, and practical uses.
What is a 48V inverter and why is it needed?
A 48-volt power inverter uses DC batteries. This converter generates AC from stored energy. This arrangement is more efficient than 12V or 24V inverters due to lower losses. Power-hungry systems need this.
The greater voltage allows the inverter to consume less current while providing the same electricity. This helps systems with larger battery banks or high-wattage items. This reduces battery and wiring stress. Off-grid 48V systems scale better for larger homes, RVs, and businesses.
The Best 48-Volt RV & Camper Inverters
Powerhome 3000W 48V Hybrid Inverter
Power Output: 3000W continuous, 6000W surge
Features: Integrated MPPT charge controller, Wi-Fi monitoring, pure sine wave output
Ideal For: Medium-sized RVs and campers
Powerhome 3000W 48V Hybrid Inverter is well-suited for RVs and medium-sized campers. It delivers a pure sine wave output and integrates an MPPT charge controller to maximise solar efficiency. Built-in Wi-Fi allows remote system monitoring—an essential feature for modern off-grid travel. With a surge capacity of 6000W, it powers common onboard devices like lighting, compact refrigerators, and portable air conditioners. For users seeking dependable performance without the complexity of larger systems, this model offers a practical and efficient solution.
One Powerhome client used their RV’s 3000W inverter. They powered lights, a mini-fridge, and a portable air conditioner while travelling. The MPPT charge controller helped them manage solar electricity. This kept the batteries charged over long trips off the grid.
Victron Multiplus-II 48/5000 Inverter/Charger
Power Output: 5000W continuous
Features: Seamless switching between shore power and battery, PowerAssist technology, remote monitoring
Ideal For: Full-time RVers and high-demand power applications
The Victron Multiplus-II 48/5000 is a suitable inverter for higher power needs. This 5000W inverter powers larger RVs and smoothly transitions between battery and shore power. PowerAssist technology supplements shore power when high-wattage appliances like air conditioners or microwaves need it. Remote monitoring with Victron’s VRM portal allows you full energy system control from anywhere.
Outback Power FXR 3048A
Power Output: 3000W continuous
Features: Advanced power management, modular design, integrated charge controller
Ideal For: Off-grid RVs requiring extended battery life
The Outback Power FXR 3048A is another popular choice for RVers and off-grid enthusiasts that need efficiency and scalability. Modular inverters make it easy to expand the system to meet rising power needs. Its inbuilt charge controller and power management make it suitable for long-term off-grid living. Its 3000W constant output makes it ideal for lighting RV lights, freezers, and electronics while maintaining battery life.
Ideal For: Large off-grid homes and small businesses
In larger off-grid homes or small remote setups, consistent and scalable power matters. Powerhome’s 5000W inverter meets those needs with a strong continuous output and 10,000W surge capability. It includes an MPPT charge controller and supports parallel stacking, making future system expansion straightforward. Wi-Fi monitoring gives users full oversight from a distance, even in isolated conditions. One homeowner reported reliable year-round performance with this unit, even under cloudy weather. It’s a dependable choice for long-term off-grid energy setups that prioritise efficiency and flexibility.
SMA Sunny Boy Storage 48V Inverter
Power Output: 6000W continuous
Features: High efficiency, modular design, integrated energy management system
Ideal For: Off-grid residential applications with high power consumption
SMA Sunny Boy Storage Inverters are among the most reliable 48V off-grid inverters. Its modular design lets you add units as energy needs expand. Our complete energy management solution helps you balance output and consumption by giving you more energy control. Its efficiency makes it ideal for solar-heavy clients who need an electrical converter to boost power.
High efficiency, modular design, integrated energy management
Solar-heavy & high-power homes
~$2,700
48V Inverter Buying Guide: What to Consider Before You Buy
Now that we’ve covered some of the best 48V inverter models for RVs, campers, and off-grid homes, the next step is understanding how to choose the right one for your specific needs. Not all inverters are created equal, and what works for a weekend camper may not suit a full-time off-grid setup. Below are key questions to help guide your decision.
How much power output do I need in a 48V inverter
This depends on the appliances you intend to run. For RVs or small campers with basic needs like LED lights, a mini fridge, or a fan, a 3000W inverter is typically sufficient. If your setup includes air conditioning, a microwave, or other high-demand devices, you should consider a 5000W or higher inverter. Choosing an inverter with a slightly higher capacity than your actual needs can improve efficiency and reduce stress on the system. For those unsure, starting with a mid-range inverter that offers some headroom is a safe choice. Explore models that offer both flexibility and long-term reliability.
What is surge capacity and why does it matter
Surge capacity is the temporary burst of power an inverter can handle, usually for a few seconds. Many appliances, especially those with motors like refrigerators, pumps, or air conditioners, require more power when starting up. An inverter with low surge capacity may shut down or fail when these devices start. Look for inverters that offer at least double the rated continuous power as surge capacity. For example, a 5000W inverter with a 10000W surge rating is ideal for homes or RVs with multiple motorized appliances.
Will a 48V inverter work with my battery system
A 48V inverter requires a battery bank configured to provide 48 volts, often achieved by connecting four 12V batteries in series or using a 48V lithium battery pack. Compatibility with battery type is also important. Some inverters only support lead-acid batteries, while others support both lead-acid and lithium. Modern hybrid inverters often allow flexible battery settings and communication with battery management systems. Always check your battery specifications and ensure the inverter supports your chosen chemistry and voltage.
Do I need a pure sine wave inverter
If you plan to power electronics such as laptops, TVs, CPAP machines, or refrigerators, a pure sine wave inverter is essential. It delivers clean and stable power that mimics the utility grid, ensuring compatibility and safety for sensitive devices. Modified sine wave inverters are cheaper but can cause noise, overheating, or even damage to certain electronics. All inverters recommended in this guide are pure sine wave models, ensuring safe and efficient operation in off-grid or mobile environments.
One last thought
When deciding on a 48V inverter for your RV, camper, or off-grid setup, you need to don’t forget your energy wishes, the home equipment you plan to power, and the system’s electricity efficiency. There are inverters for every state of affairs in 2025, from huge, scalable ones for off-grid houses to small, portable ones for RVs.
Van Houtte Coffee Services (VHCS), Canada’s leading commercial coffee services provider and a division of Keurig Dr Pepper Canada, announced Tuesday the official opening of its new $1.5 million, 26,000-square-foot office and distribution centre in Edmonton.
This expansion builds on VHCS’s 40+ years of presence in the region, underscoring the company’s ongoing commitment to innovation, customer service, and strengthening its footprint across Western Canada, said the company.
Located in West Edmonton’s industrial park, the new facility is already home to over 30 employees, with plans for continued expansion as the business grows. This innovative space not only supports VHCS’s regional operations but also enables the company to recruit additional talent to meet increasing demand across British Columbia, Saskatchewan, Manitoba, and northern markets, it explaiined.
Jonathan Theisen
“This new hub is a powerful demonstration of our long-term strategy to enhance operational capacity, expand our reach, and invest in the communities that have supported us for over four decades,” said Jonathan Theisen, General Manager, Van Houtte Coffee Services. “We’ve built a dynamic space showcasing Canadian designers and contractors that elevates our client service while offering our team a modern, collaborative work environment.”
VHCS said its $1.5 million investment highlights include:
A newly built 4,000-squar-foot office environment developed by a local Edmonton designer.
Canadian-made furniture and environmentally conscious construction led by a local general contractor.
Open, collaborative workspaces that reflect VHCS’s culture of teamwork and innovation.
With this new facility, VHCS said it is well-positioned to meet the growing demands of its customers while further contributing to the economic vitality of the Edmonton region. The investment underscores VHCS’s ongoing commitment to supporting local talent, strengthening its regional footprint, and driving sustainable growth in Western Canada.
Van Houtte Coffee Services Inc. is Canada’s leading commercial coffee services provider. With over 30 service branches located strategically across the country, it serves over one million cups of coffee every day through over 30,000 business customers.
Canadians are seeking out more Canadian brands, and chocolate is no exception. Purdys Chocolatier, a Canadian-owned and operated chocolate brand since 1907, has seen a dramatic 200%+ increase in online traffic from Canadian search queries and significant sales growth. To meet increasing demand, and the 93% of Canadians who say they want grocery stores to promote Canadian products, Purdys has partnered with Save-On-Foods to bring their Canadian-made chocolates to 131 Save-On-Foods locations across Western Canada (BC, AB, MB and SK) and Yukon.
This partnership marks a milestone for Purdys, which has exclusively sold their products to customers through their over 80 retail stores and online, said the company on Tuesday.
Lawrence Eade
“While many Canadian brands are emphasizing their heritage amidst this Buy Canadian movement, Purdys Chocolatier’s growth has been remarkably organic, driven, I believe, by our history, reputation for quality chocolates and Canadians’ inherent recognition of us,” said Lawrence Eade, President of Purdys.
“This heightened interest made it a natural decision to explore new retail avenues, allowing Purdys Chocolatier to be present in even more communities across Canada.”
Four of Purdys best-selling chocolates will be available at Save-On-Foods locations. The company described them:
● Dark Mint Meltie Bar – A classic since the 1960s, the Dark Mint Meltie Bar is a fan favourite with its smooth dark chocolate, melting away to reveal a refreshing burst of mint. Made with sustainable cocoa. ● Milk Peanut Butter Bar – Creamy milk chocolate meets a smooth, nutty peanut butter blend. This perfectly portioned bar is made for those moments when you need something rich and satisfying. Made with sustainable cocoa. ● Milk Hedgehogs, pack of 3 – The iconic Hedgehogs are a creamy, extra-nutty hazelnut gianduja enveloped in a smooth milk chocolate shell. Made with sustainable cocoa. ● Milk Salted Butter Toffee Bar – A delightful balance of sweetness and saltiness in a bar that’s a perfect blend of creamy milk chocolate and crunchy salted butter toffee bits. Made with sustainable cocoa.
Jamie Nelson
“We are absolutely thrilled to announce that select Save-On-Foods stores across Western Canada will now offer a variety of Purdys chocolates,” said Pattison Food Group president Jamie Nelson.
“Both brands have a rich history in Canada dating back more than 100 years. At a time when Canadians are looking for unique, Made in Canada products, we are proud to bring this iconic brand to our customers.”
The Association said that even with short-term fluctuations, consumer insolvency volumes in 2025 remain notably higher than pre-pandemic norms. In the first five months of 2025, the number of insolvencies filed each month exceeded the pre-pandemic monthly average of 10,634 filings (May 2016 to December 2019). Year to date, there have been 57,875 filings—7.6% higher than the pre-pandemic 5-month average of 53,784, it said.
“Although recent interest rate cuts and subsequent pauses may have offered some initial relief, many households are still grappling with persistent high living costs, stagnant incomes, and debt accumulated during a period of steep borrowing rates.”
CAIRP has 1,400 members and associates.
Business Insolvencies Decline but Remain Elevated Over Pre-Pandemic Norms
CAIRP said business insolvencies declined 16.5% in May compared to April, with 391 filings. Year-over-year, filings were down 26.2% compared to May 2024—marking the eighth consecutive month of year-over-year declines. Over the 12-month period ending May 31, 2025, business insolvencies were down 13.3% compared to the previous 12-month period.
Despite these declines, insolvency volumes remain significantly above pre-pandemic levels. The pre-pandemic monthly average (May 2016 to December 2019) was 303. May’s total of 391 filings is roughly 29% above that baseline. All five months of 2025 have exceeded the pre-pandemic average—and business insolvency levels have consistently trended higher since late 2022, it said.
From January to May 2025, there were 2,191 business insolvencies filed—34.7% higher than the pre-pandemic five-month average of 1,626, added CAIRP.
“Although headline numbers show a decline, business insolvency levels remain elevated compared to pre-pandemic norms,” said Bolduc. “This ongoing trend reflects the lasting impact of economic disruptions, inflationary pressures, and evolving uncertainties for Canadian businesses that continue to challenge business stability across multiple sectors.”
Photo: Timur Weber
Sector Data Reflects Ongoing Economic Pressures
Insolvency volumes declined across nearly all sectors in May 2025 compared to the same month last year. The construction sector saw the largest year-over-year drop (63 filings, -29), followed by transportation and warehousing (22 filings, -21) and manufacturing (23 filings, -16), said CAIRP.
“Despite the declines, accommodation and food services (65 filings) and construction (63 filings) remained the sectors with the highest number of insolvencies, accounting for 16.8% and 16.3% of total filings, respectively. These sectors continue to face pressures from high operating costs, labour shortages, and reduced consumer demand,” it said.
“Only two sectors experienced an increase in insolvency filings year-over-year: agriculture, forestry, fishing and hunting (9 filings, +4) and arts, entertainment and recreation (10 filings, +1).”
Regional Pressures Still Evident
Newfoundland and Labrador stood out once again in May, posting both the largest year-over-year (+16.6%) and month-over-month (+10.6%) increases in consumer insolvencies, compared to the rest of the provinces. This continues a trend seen in April, when the province also saw the highest year-over-year increase among all provinces (+17.4%). New Brunswick experienced the second-highest year-over-year increase in May, where consumer insolvencies rose 9.1%, according to the CAIRP report.
“In smaller provinces like Newfoundland and Labrador, even modest increases in insolvency filings can be a strong indicator of deepening financial strain at the household level. With smaller populations, each case carries more weight, and the ripple effects can be felt more broadly across communities,” explained Bolduc. “It’s critical for individuals facing financial challenges to know they’re not alone—and to have access to trustworthy guidance and support systems that can help them regain control and find a path forward.”
McArthurGlen Designer Outlet in July 2023. Photo: Lee Rivett.
McArthurGlen Designer Outlet Vancouver Airport is marking a decade of growth, community engagement, and evolving consumer trends as it celebrates its 10-year anniversary in 2025. Opened in July 2015 as a joint venture between McArthurGlen Group and Vancouver Airport Authority, the open-air luxury outlet has become a leading destination in Western Canada for value-driven designer shopping.
According to General Manager Robert Thurlow, the centre has grown from an ambitious concept built on an empty plot of land to a vibrant retail hub that attracts millions of visitors annually and ranks among Canada’s top-performing shopping centres.
Robert Thurlow, General Manager of McArthurGlen Designer Outlet Vancouver Airport
“It’s flown by very quickly, and the centre has continued to grow and go from strength to strength,” said Thurlow in an interview. “We’ve become a tourism destination in the Greater Vancouver area. You’ll see us on travel itineraries right next to whale watching and a day trip to Whistler.”
A Major West Coast Retail Landmark
McArthurGlen Designer Outlet Vancouver Airport is the only luxury outlet centre in Western Canada and remains unique in its location adjacent to Vancouver International Airport (YVR). The project initially opened with a strong lineup of brands and was further expanded in 2019 with a second phase that added another 85,000 square feet and brought in new retailers including Jimmy Choo, Aritzia, Psycho Bunny, and Adidas.
The centre now features over 80 stores, representing a mix of premium, designer, and mid-range brands including Coach, Michael Kors, Hugo Boss, North Face, and Marc Jacobs—whose location at the centre is its only on the West Coast.
The growth continues. Thurlow confirmed that a long-anticipated third phase of development is in the works. While an exact opening timeline has not yet been announced, the expansion will add approximately 65,000 square feet and between 15 and 20 stores, depending on unit sizes. Some will be new-to-market brands, while others will involve expanding space for existing tenants that have outgrown their current footprints.
“We’re more than 98% leased, which is an incredible position to be in,” said Thurlow. “We’ve reached a point where demand from retailers is exceeding our current capacity.”
McArthurGlen Designer Outlet in July 2023. Photo: Lee Rivett.
Architectural Identity and Experiential Design
The centre’s architectural character is another defining feature. McArthurGlen Vancouver’s design draws inspiration from a blend of European influences and local Vancouver heritage.
“The main entrance was designed to reflect the roofline of the Hotel Vancouver,” explained Thurlow. “In the central piazza, the brick and cobbled detailing pays homage to Gastown. And as you move further into the centre, it begins to feel more French or Italian, almost like a European village.”
This thoughtful design helps distinguish McArthurGlen Vancouver from more utilitarian outlet centres. The open-air layout, tree-lined walkways, piazzas, and car-free environment enhance the visitor experience, while also encouraging longer dwell times.
Transit-Friendly and Tourism-Oriented
Positioned just two SkyTrain stops from YVR Airport and about 20 minutes from downtown Vancouver, the outlet is easily accessible to both locals and international visitors. Approximately 20 to 30 percent of guests arrive via the SkyTrain, depending on the season and events. The rest travel by car, aided by the centre’s 2,000 free parking spaces.
“SkyTrain is one of our biggest assets. During peak periods like Black Friday or Boxing Day, transit accounts for up to 30 percent of our traffic,” Thurlow said. “And it’s just so efficient. You can be here from downtown Vancouver in under 25 minutes.”
Tourism has been a vital part of McArthurGlen Designer Outlet Vancouver’s business model from day one. The pandemic briefly disrupted this stream, but recovery was swift.
“We were back to pre-pandemic visitor levels by 2022, well ahead of other shopping centres,” said Thurlow. “The strong local base of shoppers helped. About 70 to 75 percent of our visitors are from within a 60-minute radius.”
While traffic from Asia has been slower to rebound, European countries such as the UK and Germany have returned in strength. Thurlow also cited increased visitation from Mexico, a growing market for Vancouver given the rise in direct air service between Mexico City and YVR.
Image: McArthurGlen Designer Outlet
Strong Retail Performance
McArthurGlen Designer Outlet Vancouver Airport is not only thriving in foot traffic but also in sales. According to Thurlow, the centre currently generates about $1,350 per square foot, placing it in the top tier of shopping centres in Canada, outperforming many full-price malls.
“We’re among the top five centres in the country in terms of productivity,” Thurlow said. “That includes both outlet and full-price malls. It’s quite an accomplishment for a centre that’s only been open 10 years.”
This strong performance has helped the centre attract sought-after retailers. Its tenant mix is carefully curated to offer value while preserving a premium feel. New additions this year will include Burberry, Max Mara, and the popular Canadian ramen brand Kinton Ramen, which will open a new location at the centre this fall.
“We’re seeing a great response from brands looking to open their first store in Western Canada,” Thurlow added. “Marc Jacobs was a good example of that, and Burberry is another exciting addition.”
A Deep Commitment to Community
Beyond its retail success, McArthurGlen Designer Outlet Vancouver Airport plays an important role in the broader community. Since opening, the centre has created over 1,200 local jobs and supports a wide range of charitable organizations.
“We’ve partnered with the Richmond Food Bank Society, BC SPCA, KidSport Richmond, Rainbow Refugee, and BC Women’s Health Foundation,” said Thurlow. “With food bank usage up significantly, supporting our community has never been more important.”
This dual focus, on economic contribution and social responsibility, has become part of the centre’s identity. The staff themselves reflect this diversity and inclusivity.
“Just within our management office, we have people from nine different countries. That mirrors our customer base and makes the work environment richer,” said Thurlow.
As the McArthurGlen Vancouver team celebrates its 10-year milestone, the focus remains squarely on future growth. The upcoming third phase of expansion is a major priority, and additional enhancements to the visitor experience are under consideration.
“It’s exciting to be in growth mode again,” Thurlow said. “We’re continuing to evolve to meet consumer expectations, bring in exciting new brands, and remain one of Canada’s leading retail destinations.”
DoorDash is partnering with Futurpreneur— a leading national non-profit organization supporting young and diverse entrepreneurs by offering equity-free loans with mentorship and resources — to launch a new collaboration focused on creating inclusive, connected pathways for the next generation of Canadian business owners to share, grow, and thrive together.
The centrepiece of the DoorDash and Futurpreneur partnership is Founder Socials. This series of four in-person networking events – to be held in Toronto, Vancouver, Winnipeg, and Montreal – are designed to inspire with a welcoming, high-energy space where young founders and entrepreneurs can foster genuine peer connections, discover new resources, and gain business momentum no matter the stage of their growth journey, the company explained.
Brian Kaufmann
“Small businesses are at the heart of every local economy and it’s crucial that up-and-coming entrepreneurs have ample resources, opportunities, and connections to thrive,” said Brian Kaufmann, Head of Policy at DoorDash Canada.
“We are empowering local economies with Futurpreneur by ensuring young entrepreneurs have access to what they need to grow, learn, and thrive in their communities.”
RSVP for DoorDash and Futurpreneur’s first event in Toronto on Thursday July 17 via Eventbrite.
Insights gathered through Futurpreneur’s application process reveal that connection is a core unmet need among many entrepreneurs in Canada – one that can create blindspots and silos for growing their business, according to DoorDash.
49% of respondents in Futurpreneur’s network report wanting more opportunities to connect with one another.
42% of respondents in Futurpreneur’s network indicate the desire to meet other entrepreneurs similar to themselves.
“Founder Socials is all about breaking down barriers — especially for entrepreneurs from equity-deserving communities, who haven’t always had a seat at the table — and creating spaces where connection, confidence, and opportunity can grow.”
DoorDash and Futurpreneur says they are committed to reducing the connection gap, and ensure entrepreneurship isn’t just about hustle — rather about community, visibility, and collective success.
