adplus-dvertising
Connect with us

News

These are the retailers closing in Canada or facing bankruptcy in 2020 – CTV News

Published

 on


TORONTO —
Home decor chain Pier 1, Carlton Cards and Forever 21 are simply the latest in a growing list of retailers closing their doors in Canada or filing for bankruptcy.

And several analysts told CTVNews.ca the underlying issue is that these chains haven’t kept up with changes in shoppers who have shifted online shopping.

Doug Stephens, founder of consulting agency Retail Prophet, said people are looking for an experience when they go to any type of business – bricks and mortar ones or otherwise.

“You have to be able to promise consumers one of two things: you’re either going to promise them time well-saved or time well-spent,” he told CTVNews.ca in a phone interview.

Stephens argued shoppers can save time in online stores such as Amazon, while more innovative successful stores, such as Nordstrom, go the other route and give shoppers an experience. But stores that are closing are offering neither of those things, he said.

“Often times what we find is that these are not brands that have necessarily carved a distinct … piece of the market,” he said. “They’ve been sort of left to languish in the middle of the market.”

Here is a list of some of the major chains in Canada closing all their doors, shuttering their locations or that have been hit by bankruptcy in the past two years:

PIER 1

On Feb. 17, the home decor chain Pier 1 announced it was closing all of its stores in Canada, as the retailer began bankruptcy proceedings in the United States.

In January, the company announced it was closing up to 450 of its 942 stores in Canada and the U.S. At the time, they said this was “in order to better align its business with the current operating environment.”

PAPYRUS AND CARLTON CARDS

On Jan. 22, the owner of greeting card retailers including Carlton Cards and Papyrus announced it was closing all of its stores in North America, including 76 Canadian locations. The Carlton Cards and Papyrus online stores will remain open.

BENCH

On the same day, the owner of apparel store Bench’s Canadian operations confirmed to BNN that all 24 locations would be closed. The company was founded in the U.K. in 1989 and it has changed hands multiple times before it was acquired by U.S. restructurer Gordon Brothers.

TEN THOUSAND VILLAGES CANADA

On Jan. 21, fair-trade retailer Ten Thousand Villages announced its plans to shutter many of its stores. The closures include all Ontario stores except for one each in the Ontario towns of Port Colborne and Cobourg.

BOSE

U.S.-based audio equipment retailer Bose will reportedly shutter all of its remaining Canadian stores, as part of the chain’s closure of 119 locations around the world, according to online publication Retail Insider reported in early January. This follows a handful of Bose’s other standalone store closures in Canada.

THINGS ENGRAVED

On January 14, the head of Kitchener, Ont.-based retailer Things Engraved announced plans to shut all of its 73 stores after terminating its entire workforce. CEO Shawn Black told CTVNews.ca the company had been unprofitable for several years and couldn’t compete with online retailers such as Amazon.

LINKS OF LONDON

In January 2020, Retail Insider also reported the once-popular jeweller Links Of London was planning on closing all five of its Canadian stores in the coming year. This followed earlier news in October that the chain was liquidating its American and U.K. locations.

BENTLEY

The Montreal-based luggage and bag retailer is reportedly shuttering 88 stores in Canada and cut 422 jobs, several outlets reported in December 2019. The company currently has 251 stores in Canada and the closures of the chain’s less-profitable luggage stores were first announced in November 2019, BNNBloomberg reported.

LOWE’S

In November 2019, the home renovations retailer Lowe’s announced it would close 34 “underperforming” stores across six provinces, CTV News reported. The closures add to the shuttering of 31 Canadian Lowe’s and Rona locations, including 27 stores and four other facilities, announced in November 2018.

BOUCLAIR

And also in November, the Montreal-based home décor retailer Bouclair filed notices to make a proposal under the Bankruptcy and Insolvency Act. Across Canada, 29 of the chain’s 60 locations will close.

FOREVER 21

At the end of last summer, Los Angeles-based clothing retailer Forever 21 announced it would be closing all 44 of the Canadian locations and leaving the country altogether, CTV News reported.

ZELLERS

Once a giant in the Canadian retail landscape, Zellers said its last two remaining locations in Toronto and Ottawa are slated to close early in 2020, CTV News Ottawa reported in September. At its peak, it had 350 stores across Canada with half a billion dollars in sales annually.

MOTHERHOOD MATERNITY

In the fall of 2019, maternity retailer Destination Maternity, which owns Motherhood Maternity, filed for Chapter 11 bankruptcy in the U.S. And after it was acquired by Marquee Brands LLC., it was announced that all stores across North America, including 29 Motherhood Maternity stores in Canada would close.

GAP

Back in March, the San Francisco-based fashion retailer announced it was shuttering almost half of its brand locations across the world over the next two years. This follows waves of other store closures in the past three years.

Gap didn’t disclose how many of its 230 upcoming North America store closures would be in Canada, The Canadian Press reported.

HOME OUTFITTERS

In Feb. 2019, Canadian retailer Hudson’s Bay announced it would be closing all Home Outfitters locations — including 37 stores across Canada.

GYMBOREE

Children’s retailer Gymboree filed for Chapter 11 bankruptcy for the second time in January 2019, with the company announcing that it would be shuttering all its locations in Canada and the U,S.

With files from CTVNews.ca writers Ryan Flanagan, Graham Slaughter, Solarina Ho and The Canadian Press

Let’s block ads! (Why?)

728x90x4

Source link

News

Looking for the next mystery bestseller? This crime bookstore can solve the case

Published

 on

WINNIPEG – Some 250 coloured tacks pepper a large-scale world map among bookshelves at Whodunit Mystery Bookstore.

Estonia, Finland, Japan and even Fenwick, Ont., have pins representing places outside Winnipeg where someone has ordered a page-turner from the independent bookstore that specializes in mystery and crime fiction novels.

For 30 years, the store has been offering fans of Agatha Christie’s Hercule Poirot or Arthur Conan Doyle’s Sherlock Holmes a place to get lost in whodunits both old and new.

Jack and Wendy Bumsted bought the shop in the Crescentwood neighbourhood in 2007 from another pair of mystery lovers.

The married couple had been longtime customers of the store. Wendy Bumsted grew up reading Perry Mason novels while her husband was a historian with vast knowledge of the crime fiction genre.

At the time, Jack Bumsted was retiring from teaching at the University of Manitoba when he was looking for his next venture.

“The bookstore came up and we bought it, I think, within a week,” Wendy Bumsted said in an interview.

“It never didn’t seem like a good idea.”

In the years since the Bumsteds took ownership, the family has witnessed the decline in mail-order books, the introduction of online retailers, a relocation to a new space next to the original, a pandemic and the death of beloved co-owner Jack Bumsted in 2020.

But with all the changes that come with owning a small business, customers continue to trust their next mystery fix will come from one of the shelves at Whodunit.

Many still request to be called about books from specific authors, or want to be notified if a new book follows their favourite format. Some arrive at the shop like clockwork each week hoping to get suggestions from Wendy Bumsted or her son on the next big hit.

“She has really excellent instincts on what we should be getting and what we should be promoting,” Micheal Bumsted said of his mother.

Wendy Bumsted suggested the store stock “Thursday Murder Club,” the debut novel from British television host Richard Osman, before it became a bestseller. They ordered more copies than other bookstores in Canada knowing it had the potential to be a hit, said Michael Bumsted.

The store houses more than 18,000 new and used novels. That’s not including the boxes of books that sit in Wendy Bumsted’s tiny office, or the packages that take up space on some of the only available seating there, waiting to be added to the inventory.

Just as the genre has evolved, so has the Bumsteds’ willingness to welcome other subjects on their shelves — despite some pushback from loyal customers and initially the Bumsted patriarch.

For years, Jack Bumsted refused to sell anything outside the crime fiction genre, including his own published books. Instead, he would send potential buyers to another store, but would offer to sign the books if they came back with them.

Wendy Bumsted said that eventually changed in his later years.

Now, about 15 per cent of the store’s stock is of other genres, such as romance or children’s books.

The COVID-19 pandemic forced them to look at expanding their selection, as some customers turned to buying books through the store’s website, which is set up to allow purchasers to get anything from the publishers the Bumsteds have contracts with.

In 2019, the store sold fewer than 100 books online. That number jumped to more than 3,000 in 2020, as retailers had to deal with pandemic lockdowns.

After years of running a successful mail-order business, the store was able to quickly adapt when it had to temporarily shut its doors, said Michael Bumsted.

“We were not a store…that had to figure out how to get books to people when they weren’t here.”

He added being a community bookstore with a niche has helped the family stay in business when other retailers have struggled. Part of that has included building lasting relationships.

“Some people have put it in their wills that their books will come to us,” said Wendy Bumsted.

Some of those collections have included tips on traveling through Asia in the early 2000s or the history of Australian cricket.

Micheal Bumsted said they’ve had to learn to be patient with selling some of these more obscure titles, but eventually the time comes for them to find a new home.

“One of the great things about physical books is that they can be there for you when you are ready for them.”

This report by The Canadian Press was first published on Sept. 15, 2024.



Source link

Continue Reading

News

Labour Minister praises Air Canada, pilots union for avoiding disruptive strike

Published

 on

MONTREAL – Canada’s labour minister is praising both Air Canada and the union representing about 5,200 of its pilots for averting a work stoppage that would have disrupted travel for hundreds of thousands of passengers.

Steven MacKinnon’s comments came in a statement shared to social media shortly after Canada’s largest air carrier announced it had reached a tentative labour deal with the Air Line Pilots Association.

MacKinnon thanked both sides and federal mediators, saying the airline and its pilots approached negotiations with “seriousness and a resolve to get a deal.”

The tentative agreement averts a strike or lockout that could have begun as early as Wednesday for Air Canada and Air Canada Rouge, with flight cancellations expected before then.

The airline now says flights will continue as normal while union members vote on the tentative four-year contract.

Air Canada had called on the federal government to intervene in the dispute, but Prime Minister Justin Trudeau said Friday that would only happen if it became clear no negotiated agreement was possible.

This report from The Canadian Press was first published Sept. 15, 2024.

Companies in this story: (TSX:AC)

The Canadian Press. All rights reserved.



Source link

Continue Reading

News

As plant-based milk becomes more popular, brands look for new ways to compete

Published

 on

When it comes to plant-based alternatives, Canadians have never had so many options — and nowhere is that choice more abundantly clear than in the milk section of the dairy aisle.

To meet growing demand, companies are investing in new products and technology to keep up with consumer tastes and differentiate themselves from all the other players on the shelf.

“The product mix has just expanded so fast,” said Liza Amlani, co-founder of the Retail Strategy Group.

She said younger generations in particular are driving growth in the plant-based market as they are consuming less dairy and meat.

Commercial sales of dairy milk have been weakening for years, according to research firm Mintel, likely in part because of the rise of plant-based alternatives — even though many Canadians still drink dairy.

The No. 1 reason people opt for plant-based milk is because they see it as healthier than dairy, said Joel Gregoire, Mintel’s associate director for food and drink.

“Plant-based milk, the one thing about it — it’s not new. It’s been around for quite some time. It’s pretty established,” said Gregoire.

Because of that, it serves as an “entry point” for many consumers interested in plant-based alternatives to animal products, he said.

Plant-based milk consumption is expected to continue growing in the coming years, according to Mintel research, with more options available than ever and more consumers opting for a diet that includes both dairy and non-dairy milk.

A 2023 report by Ernst & Young for Protein Industries Canada projected that the plant-based dairy market will reach US$51.3 billion in 2035, at a compound annual growth rate of 9.5 per cent.

Because of this growth opportunity, even well-established dairy or plant-based companies are stepping up their game.

It’s been more than three decades since Saint-Hyacinthe, Que.-based Natura first launched a line of soy beverages. Over the years, the company has rolled out new products to meet rising demand, and earlier this year launched a line of oat beverages that it says are the only ones with a stamp of approval from Celiac Canada.

Competition is tough, said owner and founder Nick Feldman — especially from large American brands, which have the money to ensure their products hit shelves across the country.

Natura has kept growing, though, with a focus on using organic ingredients and localized production from raw materials.

“We’re maybe not appealing to the mass market, but we’re appealing to the natural consumer, to the organic consumer,” Feldman said.

Amlani said brands are increasingly advertising the simplicity of their ingredient lists. She’s also noticing more companies offering different kinds of products, such as coffee creamers.

Companies are also looking to stand out through eye-catching packaging and marketing, added Amlani, and by competing on price.

Besides all the companies competing for shelf space, there are many different kinds of plant-based milk consumers can choose from, such as almond, soy, oat, rice, hazelnut, macadamia, pea, coconut and hemp.

However, one alternative in particular has enjoyed a recent, rapid ascendance in popularity.

“I would say oat is the big up-and-coming product,” said Feldman.

Mintel’s report found the share of Canadians who say they buy oat milk has quadrupled between 2019 and 2023 (though almond is still the most popular).

“There seems to be a very nice marriage of coffee and oat milk,” said Feldman. “The flavour combination is excellent, better than any other non-dairy alternative.”

The beverage’s surge in popularity in cafés is a big part of why it’s ascending so quickly, said Gregoire — its texture and ability to froth makes it a good alternative for lattes and cappuccinos.

It’s also a good example of companies making a strong “use case” for yet another new entrant in a competitive market, he said.

Amid the long-standing brands and new entrants, there’s another — perhaps unexpected — group of players that has been increasingly investing in plant-based milk alternatives: dairy companies.

For example, Danone has owned the Silk and So Delicious brands since an acquisition in 2014, and long-standing U.S. dairy company HP Hood LLC launched Planet Oat in 2018.

Lactalis Canada also recently converted its facility in Sudbury, Ont., to manufacture its new plant-based Enjoy! brand, with beverages made from oats, almonds and hazelnuts.

“As an organization, we obviously follow consumer trends, and have seen the amount of interest in plant-based products, particularly fluid beverages,” said Mark Taylor, president and CEO of Lactalis Canada, whose parent company Lactalis is the largest dairy products company in the world.

The facility was a milk processing plant for six decades, until Lactalis Canada began renovating it in 2022. It now manufactures not only the new brand, but also the company’s existing Sensational Soy brand, and is the company’s first dedicated plant-based facility.

“We’re predominantly a dairy company, and we’ll always predominantly be a dairy company, but we see these products as complementary,” said Taylor.

It makes sense that major dairy companies want to get in on plant-based milk, said Gregoire. The dairy business is large — a “cash cow,” if you will — but not really growing, while plant-based products are seeing a boom.

“If I’m looking for avenues of growth, I don’t want to be left behind,” he said.

Gregoire said there’s a potential for consumers to get confused with so many options, which is why it’s so important for brands to find a way to differentiate themselves, whether it’s with taste, health, or how well the drink froths for a latte.

Competition in a more crowded market is challenging, but Taylor believes it results in better products for consumers.

“It keeps you sharp, and it forces you to be really good at what you’re doing. It drives innovation,” he said.

This report by The Canadian Press was first published Sept. 15, 2024.



Source link

Continue Reading

Trending