HBC, aka The Bay, aka The Hudson’s Bay Company, is no longer Canadian-owned. At least, if the ink on the paperwork isn’t dry now, it will be very soon.
That makes me sad. Not “pass me a tissue, Tito” sad, but a little melancholy.
The company has been purchased by Jerry Zucker, from the US.
Another fine Canadian department store bites the dust.
I was bummed out when the Eaton family blew their company to bits.
Now with The Bay being sold, do we truly have any large Canadian stores left? Not including grocery stores, please. George Weston will always have his hands in the grocery business, of that I’m quite confident.
According to this article, a number of Zellers stores will be closing. I have to admit, until we had kids and moved to the ‘burbs, I rarely, if ever shopped at Zellers. Now, I look to them to buy some staple items for our life. Where else can you find kids underwear with Spiderman and Batman on them? Well, Wal-Mart for one. And Wal-Mart is actually closer to us. But I purposely drive farther and spend a few pennies more at Zellers for their underwear (exactly the same brand, even) because Zellers is Canadian owned.
Our local mall, where the Zellers is located, also contains 2 HBC stores. I have to admit, the layout is goofy. One HBC store is “fashion” and the other is “home and kids”. It would appear as though they didn’t have enough retail space in one spot to hold everything so they leased 2 significantly sized spaces. Couple those 2 stores with Zellers and you have the 3 anchor stores for the entire mall. If Zucker/Maple Leaf Heresy Investments (Maple Leaf my ass!!!!!) closes Zellers, or worse, in my opinion, changes the inventory so that it is higher end and therefore, more expensive, I do wonder what will happen to our mall. I’ve seen other malls struggle when they lose their anchors. I don’t want to see that happen to our mall but frankly, I don’t have a large enough family income to rescue the mall one purchase at a time.
The mall is located in an area that is surrounded by apts/condos that are filled with retirees. I’m actually not sure which came first. It’s like the chicken/egg thing, only with the mall/retirees. Either way, they’re living in harmony right now. On a fixed income, you look for the best deals out there. It’s evident that for a lot of retirees, Zellers provides that. Just head over to our Zellers around 9 am on a Saturday morning. It’s insanely busy with shoppers snapping up sale items. If they change the product mix and the price points, they will most likely lose most if not all of those retirees. And I may be strong-armed into going to Wal-Mart to buy Spidey boxer briefs, size 8 boys.
It’s a sad, sad day in Canada.
But we did win 24 freakin’ medals in the Olympics! Hoooorrrraaaahhhh!
Oh, and Golden Palace – they SUCK! If you saw it, you know what I mean.