Tuscani01
Senior Member
Don't forget that while Loblaws is closing 52 stores, they are also building 50 new stores. At the end of the day, the total loss is only 2 stores.
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nfitz
Superstar
If they've quantified this as 52, rather than just a round number, then there's a list out there.
Anyone seen it?
Anyone seen it?
Tuscani01
Senior Member
While its not a list, the CBC story seems to have a bit more information such as:
http://www.cbc.ca/news/business/loblaw-closing-52-unprofitable-stores-over-next-12-months-1.3164578
They'll probably release a list eventually.
Toronto Rocks
Active Member
Loblaws owns the two big homes south of the Broadview Store as well as the property to the north. This property will most likely be redeveloped.
Jonny5
Senior Member
Right. In retail you don't announce anythimg until you absolutely have to. I'm sure they announced today because at least one party out there had to be informed for a notice period, either suppliers or a union. Beyond that you won't hear of any store closures they don't need to announce until they are literally days from happening.
A bit more info about the closures http://www.canadiangrocer.com/top-s...ting&utm_medium=email&utm_campaign=Newsletter
Skeezix
Senior Member
Oh, that's interesting. I always assumed that the store survived because they were waiting for the right time to redevelop the store site, but didn't know they owned adjacent properties.
I've heard Loblaws is going to open up in the north west corner of Yonge and Lawrence in that First Capital office building.
Skeezix
Senior Member
IIRC, the street level of that building is underwhelming, as is the retail in it. Loblaws might be a big improvement.
bAuHaUs
Active Member
So does this mean that they are going to close the one at 3501 Yonge St? If so, then they may eventually redevelop that site, and add the residential intensification needed. Not sure if they've flipped this site into the REIT already, but going vertical with retail on the ground would be great.
On the CityNews Facebook post about this, people were reporting that there are stores open.
buildup
Senior Member
Are there any plans to open a proper big Loblaws near Bay & Bloor, in the PATH?
Northern Light
Superstar
In a word, 'no'.
Bloor St. Market is the mainstream Loblaws for this area.
The company is also looking to add Eataly.
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The former, may get a modest expansion, as they want to create new in-house kitchens and go even more high-end and w/more store-made product. To be determined.
Benito
Senior Member
I guess we shouldn't be surprised that they want to sell even more prepared foods than they already do. If Eataly opens there will be a lot more stiff competition.
Northern Light
Superstar
Loblaws Yonge/Eglinton (Base of Madison Condo) will open Friday, October 21, 2016