Birks Group Inc. (BGI)

Birks Group Inc. is a Montreal-based luxury jeweller whose roots go back to 1879, when Henry Birks and Sons began operating in Montreal. The company designs, makes and sells fine jewelry, timepieces and gifts, and it is among the best-known jewelry retailers in Canada. Its principal brand is Maison Birks, and it has also operated under other names including Brinkhaus in Calgary.

Birks reported its business in two segments, Retail and Other. The retail segment included a network of Maison Birks stores in major Canadian cities, along with boutiques and shop-in-shop arrangements for third-party luxury brands, among them Patek Philippe. It also sold through an e-commerce site and operated a gold exchange business, and the Other segment covered wholesale activity and related operations.

The public company took its present form after Birks combined with Mayor's Jewelers in 2005 to create Birks and Mayors Inc., whose shares were listed on the American Stock Exchange. The Mayor's business was later sold, and the company was renamed Birks Group Inc. Its Class A voting shares traded on what became NYSE American under the symbol BGI, and the company filed as a foreign private issuer.

In fiscal 2026, which ended March 28, 2026, Birks reported net sales of about $205.4 million, up 15.5 percent, and a narrowed net loss of about $3.4 million. Growth was helped by the July 2025 acquisition of European Boutique, a luxury jewelry and watch retailer in the Greater Toronto Area that added four stores. In June 2026 the company refinanced with a five-year senior secured term loan of $32.5 million and extended its revolving credit facility to June 2031.

Despite the improvement in operating results, the company carried a shareholders' deficiency and substantial financing costs. In February 2025 it had been notified by NYSE American that it fell short of continued-listing standards relating to shareholders' equity and sustained losses, and the exchange accepted a compliance plan with a deadline of August 25, 2026. Mangrove Holding is identified as its controlling shareholder.

In early August 2026 Birks announced its intention to voluntarily delist its Class A voting shares from NYSE American and have them quoted on the OTCQB, an over-the-counter market operated by OTC Markets Group. It said it had considered several alternatives before choosing this course. A Form 25 was filed on or about August 17, 2026, and the last trading day on NYSE American was anticipated around August 27, 2026.

The company stated it would continue to make filings through EDGAR, provide semiannual financial information and publish annual audited financial statements. The move was not a going-private transaction or an acquisition, and the shares continue to trade over the counter. Stores, employees and customers were not indicated to be affected by the change of venue.