Northern Light
Superstar
Well, if the nameplate is to be rescued, working escalators will be a prerequisite. That's a potential high-performing location to give up if you want to keep the brand a going concern.
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Well, if the nameplate is to be rescued, working escalators will be a prerequisite. That's a potential high-performing location to give up if you want to keep the brand a going concern.
Richard White
Senior Member
If I was to save the Bay I would keep only stores in major urban centers like Toronto/Mississauga (Square One), Montreal, Vancouver and Edmonton (West Edmonton Mall). Even then, only those in high performing locations should be salvaged.
Smaller towns like London, Regina, etc are more deadweight than anything else sadly and should be sacrificed to save the chain as a whole.
That's not to say all stores in Toronto should be salvaged but stores like STC, Queen St, Sherway and Yorkdale are worth a second look. Eglinton Square, Woodbine and others not so much. One could argue though that Square One would take precedent over Sherway given the proximity and locations of them.
Hard decisions need to be made and nostalgic emotion needs to be taken out of the equation.
G_DOG
Active Member
Hugo Boss was also gone from the sherway store when i walked through today. annoying that of all the doors from outside only one door was working .
Richard White
Senior Member
It seems as though they are removing certain merchandise from the stores. Last weekend, HBC Merchandise was being removed from shelves and there were limited brand name products in other areas of the store.
ShonTron
Moderator
I wrote up some thoughts on my site. It’s ironic that as Canada’s sovereignty is being threatened, the company that defined so much of its history is being destroyed by American venture capital.
seanmarshall.ca
The fall of an empire
After 355 years, and several years of noticeable decline, Canada’s oldest corporation and last department store comes to an ignoble end.
seanmarshall.ca
thettctransitfanatic
Senior Member
I am gonna go the The Bay at Mapleview in Burlington on Saturday and if I see anything unusual, as others have reported products being removed and stuff, will report it here
Admiral Beez
Superstar
It’s too late. Private equity bought HBC years ago because of its property and lease holdings and low debt, making it perfect for the leveraged buyout, where the target funds their own acquisition, whereupon the buyer further borrows against the new business by mortgaging the previously debt-free real estate and other assets. Rinse and repeat until every easily achieved penny is squeezed out, and then dump the debt-ridden husk.I wrote up some thoughts on my site. It’s ironic that as Canada’s sovereignty is being threatened, the company that defined so much of its history is being destroyed by American venture capital.
The fall of an empire
After 355 years, and several years of noticeable decline, Canada’s oldest corporation and last department store comes to an ignoble end.
cslusarc
New Member
I wonder if Hudson's Bay will start to shelf-pull non-clearance priced merchandise from potentially liquidating stores like Centrepoint (1515) and Woodbine (1522), sending this more clearance merchandise turing them into Clearance Centres for a 12 -16 week liquidation process.
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Richard White
Senior Member
This is already being done as I noted at other stores.
As I said before, STC is pulling their higher end products from shelves and placing everything else on clearance.
matrix
Active Member
I would love to see how Oakville Place would deal with that loss. Well, maybe not love, because that mall isn't very good in the first place, but it would be interesting at the very least. When Sears exited, they diversified and replaced the space with four different stores- now as it stands, it's a Mark's, Goodlife, Petsmart and Laura/Melanie Lyne. They cited wanting replacements that "serve the community"...
Admiral Beez
Superstar
Maybe saving the old Simpson’s building at Yonge and Queen will join Old City Hall as historic sites needing a repurpose and saviour.
torontoguardian.com
In the height of the condo boom the Simpson’s building would make a great footing for a super tall, but that market’s slowed.
The History of the Robert Simpson Company Building
The Robert Simpson Company building in Toronto stands at the corner of Yonge and Queen Streets. Home of Simpson's department store until 1978, now The Bay.
torontoguardian.com
In the height of the condo boom the Simpson’s building would make a great footing for a super tall, but that market’s slowed.
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thettctransitfanatic
Senior Member
Think it's safe to say, it's over for Hudsons Bay and most stores will close after reading this...
''Documents show it owes money to nearly 1,900 creditors like Ralph Lauren, Estée Lauder and the Eaton Centre''.
''Well-known fashion and beauty brands are listed, such as Ralph Lauren, which is owed $16 million, Estée Lauder, which is owed $9 million and Chanel, which is owed $5 million.well-known fashion and beauty brands are listed, such as Ralph Lauren, which is owed $16 million, Estée Lauder, which is owed $9 million and Chanel, which is owed $5 million''.
''The company owes $5 million to Ontrea Inc., which owns the Eaton Centre and Chinook Centre in Calgary, and $1 million to Cadillac Fairview.''
''Hudson’s Bay also owes millions of dollars to Canadian governments, including $8 million to the federal government, $5 million to Quebec, $2 million to B.C., and $1 million to Toronto Hydro.''
www.thestar.com
''Documents show it owes money to nearly 1,900 creditors like Ralph Lauren, Estée Lauder and the Eaton Centre''.
''Well-known fashion and beauty brands are listed, such as Ralph Lauren, which is owed $16 million, Estée Lauder, which is owed $9 million and Chanel, which is owed $5 million.well-known fashion and beauty brands are listed, such as Ralph Lauren, which is owed $16 million, Estée Lauder, which is owed $9 million and Chanel, which is owed $5 million''.
''The company owes $5 million to Ontrea Inc., which owns the Eaton Centre and Chinook Centre in Calgary, and $1 million to Cadillac Fairview.''
''Hudson’s Bay also owes millions of dollars to Canadian governments, including $8 million to the federal government, $5 million to Quebec, $2 million to B.C., and $1 million to Toronto Hydro.''
Court documents reveal Hudson’s Bay owes $950 million to landlords, fashion brands, banks and government
Court documents show that Hudson’s Bay owes $950 million to nearly 1,900 creditors — including landlords, fashion brands, banks and Canadian governments.
www.thestar.com
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Bayer
Senior Member
I loved shopping at Simpson's on the second floor. Nice clothes and great staff. But that's so long ago. I won't be missing the current store.
ShonTron
Moderator
There was a whole two part episode of TVO’s Today’s Special about the impending closure and demolition of the Simpsons store. For a kids’ show with puppets and songs, it got into some urbanism themes.
AlvinofDiaspar
Moderator
Maybe saving the old Simpson’s building at Yonge and Queen will join Old City Hall as historic sites needing a repurpose and saviour.
The History of the Robert Simpson Company Building
The Robert Simpson Company building in Toronto stands at the corner of Yonge and Queen Streets. Home of Simpson's department store until 1978, now The Bay.
In the height of the condo boom the Simpson’s building would make a great footing for a super tall, but that market’s slowed.
The site is ripe for intensification - and there isn't the slightest issue with putting a tower up at the eastern portion so long as the facade is preserved.
AoD