Canadian e-commerce companies Cymax Group Technologies and CommerceBear have reportedly shut down, adding to pressures facing the country’s retail technology sector.
Burnaby-based Cymax employees have discussed the company’s closure publicly, including a senior leader involved in its wind-down. BetaKit also reported that a source familiar with Toronto’s CommerceBear confirmed its shutdown.
Both companies built technology serving furniture sellers, a market challenged by slower spending after the pandemic boom.
Cymax operated e-commerce and shipping platforms, while CommerceBear helped manufacturers sell through major online marketplaces.
Neither company responded to BetaKit’s requests for confirmation. The number of employees affected remains unclear for now.
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