[Moncton] Retail Thread

[DyAm00394]

Originally Posted by MonctonRad

Thai Express at the Granite Centre may not be happening. There is now a "for lease" sign in the window of the unit they were going to occupy.

Their website still lists the location as coming soon, but for March 2024 instead of December 2023. But it still says unit #7, so not sure why a for lease sign went up. Unless it was changed to March 2024, then something else happened and has now fell through all together, (and the website just hasn't updated yet).

[MonctonRad]

A bit of a mystery then. If the website states a new opening date in March, that might simply indicate a delay. The "for lease" sign might have actually been in unit 6, not 7. I will check again the next time I pass by.

[DyAm00394]

Originally Posted by MonctonRad

A bit of a mystery then. If the website states a new opening date in March, that might simply indicate a delay. The "for lease" sign might have actually been in unit 6, not 7. I will check again the next time I pass by.

Someone over on retail talk and share, who is an owner of an interior construction company, has said he heard from sources that construction costs were over their budget.

[MonctonRad]

I was over to CF Champlain today buying a Christmas gift at Just Cozy, and was chatting up the clerk at the cash. She confirmed that the store moving into their old location next to Eddie Bauer will indeed be Aritzia.

This still leaves the tenant moving into the soon-to-be-vacant lululemon space (after they relocate) unknown, but, Brown's Shoes is the leading candidate.

[DyAm00394]

Mastermind Toys is saved from potential bankruptcy.

https://globalnews.ca/news/10146360/mastermind-toys-liqudation-acquisition

Will be bought out by Unity Acquisitions Inc. (They are backed by major names in Canadian retail, including Joe Mimran, the founder of Joe Fresh and co-founder of Club Monaco).

[MonctonRad]

Excellent news. Mastermind Toys is a quality retailer. They deserve a second chance.

I think they were done in by an overly aggressive expansion phase, the pandemic and, the current economy. It was the perfect trifecta. Maybe now, with prudent oversight, they can make a go of it.

[MonctonRad]

CBC (Canadian Press) article about Mastermind Toys:

Mastermind Toys to close 18 stores, will sell bulk of its business to Unity Acquisitions
Liquidation sales at Canadian retailer to wrap up by Feb. 29
The Canadian Press · Posted: Dec 04, 2023 2:33 PM AST | Last Updated: 43 minutes ago
https://www.cbc.ca/news/business/mastermind-toys-acquisition-1.7048307

Mimran is best known for founding Club Monaco, creating the Joe Fresh brand for grocer Loblaw Companies Ltd., and in more recent years, helping revive hat business Tilley Endurables Inc. with Rocchetti.

Meanwhile, Lui has spent time at Canadian Tire Corp. Ltd.'s brands Sport Chek and Mark's, and is chief executive of clothing retailer Kit and Ace, which the trio also own. The group also owns Casca Footwear, a premium shoe company from Vancouver.

You probably couldn't hope for a better trio of white knights than these three investors. I have high hopes for a bright future for Mastermind Toys.

The Saint John and Freddy stores will not be saved, but the Moncton store is one of the survivors. This is good news.

[Taeolas]

Yeah, looks like the future of the chain is brighter overall.

While it is sad to lose the SJ and Freddy stores, I suspect it is a bit of short term pain for stability. If they can get the store brand stabilized, I suspect Freddy and probably SJ would be on a short list to reopen in a few years.

[new kid in town]

Drove by the junction village and saw a poster that Yuzu is open? Is this a new one or an old poster they haven't taken down since?

[DyAm00394]

Originally Posted by new kid in town

Drove by the junction village and saw a poster that Yuzu is open? Is this a new one or an old poster they haven't taken down since?

Well Google and their Facebook page both say "permanently closed". So I think it's probably an old poster.

[MonctonRad]

Urban Salon & Spa in CF Champlain is apparently closing after Christmas.

[MonctonRad]

According to Retail Talk & Share, Hama Film, a "Korean style self photo studio" will be occupying the small CRU next to Mavericks Hair Studio, and across from the ScotiaBank at CF Champlain.



There are two existing locations, both in greater Toronto. It will be interesting to see how successful this venture will be down here.

[MonctonRad]

Construction hoarding is now up for the new Aritzia at CF Champlain.

[MonctonRad]

Apparently ElFashion at CF Champlain has abruptly closed.

I could see this one coming from a mile off.

- Local entrepreneur, and first time bricks and mortar store owner.
- Located in a high rent property (CF Champlain)
- In a secondary corridor with low foot traffic volume.
- No advertising (word of mouth only).
- Postage stamp sized space with a high quality, but esoteric and eclectic assortment of clothing.
- Tightly packed, with no room for casual browsers.

The soon-to-open Hama Film will also be a high risk venture I fear, and may similarly be gone within six months.

[MonctonRad]

Stacked Pancake and Breakfast House, which has previously announced a new location in Champlain Plaza Phase Two (Petitcodiac Plaza) in Dieppe, apparently have announced a second location in Moncton's northwest end. They are planning on opening in the Plaza Boulevard Centre. If you go on their website, they have listed both locations as "coming soon."

https://www.stackedpancakehouse.ca/

There is no indication as to when either location will open.

[josh_cat_eyes]

It appears that H&R Block will be reopening their Northwest Centre store in the former subway. This would allow Dollarama to expand into the former H&R Block unit.

[MonctonRad]

Urban Salon & Spa and Charmed Aroma at CF Champlain are now formally closed. Both of these closures have been previously announced.

[MonctonRad]

Rumour is that the new Tesla showroom at CF Champlain will open on January 15th.

[MonctonRad]

A few additional CF Champlain notes:

- Hama Film is now open. I have low expectations regarding the long term survival of this enterprise.
- Villa Medina is now complete and should be opening almost anytime. This should be popular, and leaves the food court at 100% occupancy.
- The former Charmed Aroma location has apparently been leased. The new occupant will be another pop-up. Better than nothing. I wonder if Just Cozy will move here. It would be a better location than where they are currently.

[josh_cat_eyes]

H&R Block at northwest centre looks like it’s ready to reopen if they are not already. It appears they are just waiting for the exterior signage.

Dollarama will be expanding into the old H&R Block as was previously speculated.