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List of Retailers closing in Canada

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Direct Link To This Post Topic: List of Retailers closing in Canada
    Posted: Jan/20/2015 at 10:10pm

Retail retreat: Target isn't the only chain closing up shop in Canada

JEREMIAH RODRIGUEZ

The Globe and Mail

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Thursday marked the end of Canadian operations for discount retailer Target Corp., which announced it was closing 133 locations in Canada and leaving the country. But the big U.S. retailer isn’t the only chain to close shop in Canada. Since summer 2014, we’ve bid adieu to a slew of others, too. Here is a list of some of the closures The Globe has reported on recently.

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(J.P. Moczulski for The Globe and Mail)

Sony

Just a few short hours after Target announced their planned departure, Japanese electronics giant Sony Corp. said it too planned on closing all of their locations in Canada. Sony has 14 retail stores from Vancouver to Quebec City and plans to shutter them all by the spring. The company istrying to turn around its slumping business amid high-profile data breaches and tough competition in the smartphone space.

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(The Canadian Press/Rachel Verbin)

Mexx Canada

The Dutch-based fashion retailer filed for bankruptcy protection in Canada at the beginning of December, 2014 after unsuccessfully trying to restructure its operations. Mexx Canada plans to close all 95 stores by the end of February. Parent company Mexx has 315 stores worldwide and had declared the bankruptcy in Amsterdam the day before the Canadian announcement.

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The Canadian Press/Ryan Remiorz

Smart Set

Women’s fashion chain Smart Set is closing all 107 locations after a November, 2014 announcement by parent company Reitmans (Canada) Ltd. Reitmans also announced that it would convert 76 former Smart Set locations into Reitmans as well as its other smaller chains, Penningtons, Addition Elle, RW&Co. and Thyme Maternity. The Smart Set chain was created in 1945 and opened its first location in Ontario in 1970. 

Image URL:
(Moe Doiron/The Globe and Mail)

Jacob Inc.

Montreal-based women’s clothing retailer Jacob Inc. announced in May, 2014 it would close 92 stores across Canada after abandoning restructuring efforts. Jacobs was founded in Montreal in 1977 and had been under creditor protection since November, 2010. 

Image URL:
(Kevin Van Paassen/The Globe and Mail)

Bombay, Bowring & Co. Inc. and Benix & Co. Inc

All three retail chains, owned by a member of the Isaac Benitah family, filed for bankruptcy protection on Aug. 11, 2014. Between the three home décor chains, 110 outlets will be closing. The week before the announcement, the three companies received court protection from creditors, whom they owed $86.6-million.

With files from Marina Strauss and Iain Marlow

http://www.theglobeandmail.com/report-on-business/retail-retreat-target-isnt-the-only-chain-closing-up-shop-in-canada/article22487550/

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Direct Link To This Post Posted: Jan/21/2015 at 7:14am
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Direct Link To This Post Posted: Jun/09/2015 at 8:29pm

Blacks camera stores across Canada closing Aug. 8

In 2009, Telus acquired Toronto-headquartered photo and video-developing company

CBC News Posted: Jun 09, 2015 12:15 PM ET Last Updated: Jun 09, 2015 7:06 PM ET

Blacks, the longtime Canadian camera shop and film developing chain with the slogan "Blacks is photography," will close its stores across Canada in August.

Telus, which acquired Blacks in 2009, confirmed in a statement that all of the company's 59 outlets — most in Ontario — will be shut by Aug. 8.

Some 485 employees are affected by the closure, Telus said, noting it will try to find new jobs for those employees with Telus or its mobile service, Koodo.

"Technological innovations have changed the way Canadians take and share photographs, with fewer of us using retail photo outlets," Telus said in a statement.

The statement said Blacks had made "positive momentum and financial improvements" during the last year, but the company isn't growing.

Telus said it would take "considerable investment" to turn Blacks into a profitable chain. 

Blacks' online presence and app will cease on Aug. 8, Telus said.

Cellphones killed the camera store

Ken Wong, an associate professor of business at Queen's School of Business, said the "obvious change" in the way Canadians take and share pictures caused Blacks' demise.

And if there's a murder weapon in the photography chain's death, it's the cellphone.

"The use of the cellphone as a camera has had a huge effect on the industry," Wong said, noting other large chains like Henry's have also struggled.

Wong said Blacks catered to more casual photographers than its rivals and struggled to differentiate itself and create reasons for people to come to the store rather than go online — the same issue that recently forced Sony stores to close.

"Everywhere we look, traditional retail is having some difficulty," Wong said.

http://www.cbc.ca/news/canada/toronto/blacks-camera-stores-across-canada-closing-aug-8-1.3106137

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