There are no XS Cargo retail locations open, as of 2015. After the retailer sought bankruptcy protection in July 2014, it decided to shut down all 50 of its locations in Canada. At one time, the company had 650 employees on its payroll.
One of the main reasons for the closure of XS Cargo stores was the entrance of U.S. discount retailers, such as Walmart and Target, into the market. The company operated as a wholesale warehouse retailer that offered the excess inventories of other companies to consumers for lower prices. The company also sold many used and refurbished products, including electronics, furniture and kitchen appliances.