Syd Silver was at one point Canada’s leading tuxedo retailer. On Decemeber 24, 2009, Syd Silver declared bankruptcy after 82 years in business. It had grown into a chain with 17 stores and 100 employees.
The business was started in 1927 by Syd Silver, with the first shop on Yonge St. near College St. Soon it became linked in the minds of many Canadians with weddings, graduations etc.
Michael Silver, who ran the business after his father Syd died in 1978 reasoned – competition on price, the recession and changing times have taken their toll on the retailer.
Reference: The ball is over for Canada’s tuxedo king