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A Look At All The Fashion, Grocery & Entertainment Retailers Closing Stores In Canada

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A list of retailers that have recently closed or are closing shop in Canada:

TARGET-Target-Florida

Shareholders in Loblaws and Dollarama are celebrating Target’s abrupt departure from Canada, and market analysts are lauding the retailer for making the right strategic move, but there’s one group who see nothing positive in all this: The 17,600 households that rely on a paycheque from Target Canada.

No one knows for sure what Canada’s largest-ever layoffs were, but the Wall Street Journal polled economists and they could only come up with one larger layoff than Target: The shutdown of the Atlantic fishery in the early 1990s. Yes, we are talking about economic devastation on that scale. (Some of the layoff rounds at Nortel a decade or so ago also came close, economists say.)

Mexx store in Toronto

Mexx Canada

— Dutch-based retailer declared bankruptcy in December 2014

— Liquidating 95 stores in Canada by the end of February

— Has 315 stores around the world

o-SMART-SET-570

Smart Set

— Parent company Reitmans (TSX:RET.A) announced in November 2014 that it would close 107 Smart Set stores

— Will convert 76 locations into other banners, including Reitmans, Penningtons, Addition Elle, RW&Co. and Thyme Maternity

— Smart Set banner was created in 1945, with the first location opening in Ontario in 1970

— First Reitmans store opened in Montreal in 1926

GNM

Jacob

— Womens’ retailer was founded in 1977 in Montreal

— Announced in October 2014 it would abandon restructuring efforts and close 92 stores across the country

— Company under creditor protection since November 2010

o-HOLT-RENFREW-UNION-570

Holt Renfrew

— Luxury retailer closing stores in Ottawa and Quebec City at the end of January 2015

— Will undertake a $300 million expansion in key markets such as Vancouver, Calgary, Edmonton, Toronto, and Montreal

Sears at the Eaton Centre last day

Sears Canada

— In October 2014, parent company Sears Holding Corp. (NYSE:SHLD) announced it would sell most of its stake in the struggling Canadian unit to raise as much as US$380 million

— In January 2014, Sears Canada announced it was cutting 2,200 employees from its payroll. It had already laid off thousands of employees in 2013

— Sears Canada has sold leases to some of its most prominent locations, including its flagship location at the Toronto Eaton Centre

o-ZELLERS-FUNNY-VIDEOS-570

Zellers

— In 2011, parent company Hudson’s Bay Co. (TSX:HBC) sold its leasing rights for its nearly 200 Zellers locations to U.S. retailer Target for $1.83 billion

o-SONY-570

— Sony announced Thursday it’s planning to close all its locations (about 15) in Canada. The company did not immediately say why it was closing the stores or how many workers would be affected.

A Look At Other Big Names We Missed

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