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  #2421  
Old Posted Oct 3, 2017, 7:05 PM
kevinbottawa kevinbottawa is offline
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Originally Posted by rocketphish View Post
I wonder if this will have any fallout for Ottawa?
According to the OBJ, it seems Ottawa (as well Toronto, Montreal, Calgary, Edmonton and Vancouver) is okay. It affects power centres in secondary markets. http://obj.ca/index.php/article/rioc...wo-three-years
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  #2422  
Old Posted Oct 3, 2017, 7:29 PM
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This isn't so great though:
Quote:
About half of the net proceeds will be used to repurchase RioCan trust units from the open market.
It sounds like a tactic to use profits to buy back stock in order to reduce their number and drive up the value of remaining ones. It usually results in turning real money into paper money, removing it from the active economy.
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  #2423  
Old Posted Oct 3, 2017, 7:41 PM
Uhuniau Uhuniau is offline
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Quote:
Originally Posted by kwoldtimer View Post
When I originally posted, I was going to say "that hole will soon be plugged", but "that gap will soon be filled" seemed more tasteful, somehow ....

Not to come off like a complete 14 year old, but the idea of a Stag Shop in the Glebe is bizarre in a way that makes me chuckle. I wonder what the BIA thinks?
True story: as the Great Glebe Garage Sale was winding down one year, and people were putting "free" stuff out at the curb, I came across a box of books.

Among them was a hefty how-to guide for the butt seks.

Whatever the BIA might think, people in the Glebe like to do stuff with each other
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  #2424  
Old Posted Oct 3, 2017, 7:42 PM
Uhuniau Uhuniau is offline
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Haha... KFC is a "community improvement". Good one.
This is thoroughly disgusting.
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  #2425  
Old Posted Oct 5, 2017, 2:05 AM
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The inexorable slide into oblivion continues...

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Sears Canada seeks to close 11 more stores and extend bankruptcy protection
The 10 additional Sears department stores and one Sears Home store include major locations in Toronto, Winnipeg and Montreal

The Canadian Press
October 2, 2017, 3:55 PM EDT


TORONTO — Sears Canada is planning another round of closures involving a total of 11 stores, including major locations in Toronto, Winnipeg and Montreal, if it gets approval from the court overseeing the retailer’s restructuring.

The 10 additional full-line Sears department stores and one Sears Home store had survived the initial list of 59 closings that was announced in June when the company got court protection from its creditors.

The new list of stores, announced late Friday, includes the Fairview Pointe-Claire location in Montreal, the Scarborough Town Centre and Fairview Mall location in Toronto, and the Polo Park location in Winnipeg.

The other full-line stores are in St. John’s, N.L., Oakville and Hamilton, Ont. and in Nanaimo, Burnaby and Kelowna, B.C. The one Sears Home store to be closed is also in Kelowna.

The Toronto-based company will also seek an extension of the court’s protection from creditors until Nov. 7.

Sears Canada says it wants more time to work on a potential purchase of the company by a group led by Sears Canada’s executive chairman Brandon Stranzl.

The court hearing at Ontario Superior Court in Toronto is scheduled for Wednesday.

http://business.financialpost.com/ne...negotiate-deal
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  #2426  
Old Posted Oct 10, 2017, 5:18 PM
acottawa acottawa is offline
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They have asked the court to proceed to liquidation.

http://www.cbc.ca/news/business/sear...ourt-1.4347765

I could see Carlingwood getting a replacement store. I think the St Laurent store will have to be torn down, it is too weird of a space for any remaining retailers to deal with.
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  #2427  
Old Posted Oct 10, 2017, 6:48 PM
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Sears at St Laurent has a lot to cut through traffic in it because its the only convenient entrance into the mall from the northwest, which covers a good chunk of the parking lot as well as pedestrian traffic from Coventry. For this reason the space would probably be fairly attractive to prospective tenants if subdivided.
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  #2428  
Old Posted Oct 10, 2017, 7:02 PM
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Sears at St. Laurent (originally Simpsons-Sears) if I recall correctly used to have some pretty cool 60s-70s department store architecture.

The part of the main mall that faces the Queensway also had a pretty neat design as well.

I can't find any images though, and all of the unique elements were either covered or removed in renovation projects over the years.
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  #2429  
Old Posted Oct 10, 2017, 7:59 PM
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this post doesn't have any shots of St Laurent's whacky old fins, but it does show a few of the original Simpson-Sears design touches.
http://urbsite.blogspot.ca/2010/04/s...-east-end.html
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  #2430  
Old Posted Oct 10, 2017, 9:08 PM
Richard Eade Richard Eade is offline
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Anyone, besides me, think that this might have been why St. Laurent's owners/management delayed their recent planned expansion? I expect that they had a good idea that Sears was no longer a permanent anchor.

Perhaps we will now see some mixed use additions to the property.
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  #2431  
Old Posted Oct 10, 2017, 9:34 PM
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Toys R' Us is also a big consideration. That's two of its biggest, and longest standing stores on the verge of closing.

Morguard needs to get its act together. They missed the boat by cancelling its expansion, making way for the other big 3 to beat them to the punch in attracting the Simons, H&M's and Forever 21's of the world. Now they need to capitalize on the Confederation Line before stage 2. RioCan is already on top of it, building at Blair and planning the redevelopment of Lincoln Fields.
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  #2432  
Old Posted Oct 10, 2017, 10:21 PM
SkeggsEggs SkeggsEggs is offline
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Toys 'R' Us Canada is different from the American one, it is still profitable. It is only feeling a pinch because of a lack of faith in the parent company so suppliers are more wary. I doubt we will be seeing any Canadian Stores closing anytime soon.
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  #2433  
Old Posted Oct 11, 2017, 6:00 PM
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Quote:
Originally Posted by Richard Eade View Post
Anyone, besides me, think that this might have been why St. Laurent's owners/management delayed their recent planned expansion? I expect that they had a good idea that Sears was no longer a permanent anchor.

Perhaps we will now see some mixed use additions to the property.

Interesting theory but I'd be surprised if St Laurent had the foresight. I don't think they had the money for an expansion. I worked in the mall throughout their renovations and the workmanship and materials were so poor that its clear they didn't have the money required. It took almost 2 years to fix all the new broken floor tiles. Another big hint to the lack of funds is their new Christmas decorations. Malls tend to go all out in this department, but when they had to redo their decorations to go with the new reno, they went with very cheap and tacky decor. Compared to what the Rideau Centre had last year, its like a child put it together.

It will be interesting to see what the mall does to survive. They already have a massive empty space in the basement where a college used to be, and lots of other empty storefronts or random stores that aren't major chains. To lose the huge Sears store could be very bad for the future of St Laurent. Last I heard (6-8 months ago) they were holding steady with the rents they charge, even for stores struggling to stay in business. They might need to lower their expectations a bit.
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  #2434  
Old Posted Oct 11, 2017, 6:58 PM
acottawa acottawa is offline
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St Laurent doesn't seem to be doing that badly. They have fewer empty stores than the Rideau Centre and the mall is almost always busy.

Obviously Morguard doesn't have the deep pockets of the Teachers' pension plan and they are not chasing the higher end stores that the Rideau Centre is chasing (so it would make little sense to spend money on high-end finishes or decorations).

I think Toys R US loss would hurt them a lot more than Sears, since families with young children are a big part of their clientele.

What they really need to do is sort out that lower level before the LRT opens.
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  #2435  
Old Posted Oct 11, 2017, 8:13 PM
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Positive it wasn't foresight. Those expansion plans, and their demise, were 6-9 years ago before the inevitable death of of Sears started to be apparent. Foresight was Cadillac Fairview buying out Sears back in 2013 to free up space in their top preforming malls in favour of newcomer Nordstom. That was a brilliant move.
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  #2436  
Old Posted Oct 11, 2017, 8:58 PM
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St Laurent to me seems to be at a turning point.

Not that long ago it appeared to be sitting pretty. Rideau Centre was sputtering a bit, Place d'Orléans was in decline and St Laurent was also getting a decent amount of Hull-Gatineau shoppers due to Les Promenades being so crappy. Plus it had all of the 417 East country all to itself.

Now Rideau Centre and Les Promenades have upped their game considerably. Place d'Orléans is still sputtering IMO but that may not last.

Of course St Laurent will still remain the go-to mall for people who live to the east of Ottawa along the 417.

Still a very uncertain future. Somewhere between the east end's Bayshore and an oversized Carlingwood/Billings Bridge...
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  #2437  
Old Posted Oct 11, 2017, 9:03 PM
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Even Place d'Orléans has been able to at least attract some of the trendier, relatively new to the market stores. The most exciting thing to open up in St-Laurent in the last few years was Joe Fresh. That's not saying much.
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  #2438  
Old Posted Oct 11, 2017, 9:05 PM
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The only image I could find of the initial look of St-Laurent. You can see the sloping roofs but you can't really tell on here what the Sears actually looked like. It looked great in person. That was fine shopping mall design as I liked it.



Source: https://c1.staticflickr.com/4/3691/3...774f35ab_b.jpg
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  #2439  
Old Posted Oct 12, 2017, 1:05 AM
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Three Sears stores in Ottawa to liquidate, 323 out of jobs

Paula McCooey, Ottawa Citizen
Bruce Deachman, Ottawa Citizen
Published on: October 11, 2017 | Last Updated: October 11, 2017 7:17 PM EDT


More than 300 Ottawans will be out of jobs from three local Sears stores after the company announced all its Canadian locations would close shop.

Sears Canada is seeking approval to liquidate its roughly 130 remaining stores and put 12,000 employees out of work across the country, including retail and distribution jobs.

The embattled department store retailer, which sought protection from its creditors in June, said Tuesday it had failed to find a buyer that would allow it to continue operating.

Ottawa’s locations include Sears at Carlingwood Mall, which has 133 employees, Sears Home Store at Pinecrest Mall, which has 36 employees, and a third location at St. Laurent Shopping Centre, which has 154 employees.

The liquidation sales would likely begin Oct. 19 and last 10 to 14 weeks, said a spokesman.

Outside the Carlingwood Sears on Wednesday, reaction to the store’s pending closure was mixed.

“It’s pretty sad,” said Maureen McCann, who was shopping at the store with her sister Peggy. “It was around for all our years growing up, and it was always a place where I shopped.”

“We had accounts with Sears since we were teenagers,” added Peggy, “and we bought everything here — furniture and appliances — and it is kind of sad. We’re kind of surprised that it’s Sears closing and not The Bay, which is a little more pricey. But in the last few years, the service (at Sears) did go down.

“They used to stand behind their products all the time, and then we started having trouble. That must have been a sign.”

Another customer, Veronica Sumeg-Ang, was also saddened by the news.

“I feel bad, number one, for the employees who are affected. And I love the products from Sears. And it’s close to where I live in Westboro, and there were always sales, for the clothes, for the shoes, and it was very affordable.”

Carleton Place resident Sandy Roesler, a housecleaner, was at Sears on Wednesday to scoop up bags for her Kenmore vacuum cleaners and to find out where she’d be able to purchase them in the future. Kenmore is Sears’s store brand for appliances.

“I grew up with this store and I really like their products,” she said. “It’s sad that so many people are losing their jobs, but also what Sears has done for the community, like the children’s hospital and other places they donate to in the city.”

Others were less disheartened by the news of Sears’s closing.

“I’m sorry to hear about the people losing their jobs,” said Matt Attinello, 24, “but I don’t shop here. I went with my parents when I was a kid, but I don’t see the appeal. Anything I need I’d find somewhere else, either online or in stores I know. I never think of going here.”

Heather Hopewell, who worked in the cosmetics department of the Carlingwood Sears for two years, after eight years at the Rideau Centre location until it closed in 2012, said she’s not surprised by the news. “As a (former) employee, I can tell you that the customer service was awful. As a customer, if you need help, you can’t find anybody.

“But it’s sad. My mother-in-law used to live up in Yellowknife and she’d order stuff out of the catalogue for us for Christmas. I have four kids between three and 10, and they’d go through the Sears catalogue. So how are they going to pick out their toys now, because Toys R Us is also closing?

“So, yes, it’s kind of sad, but it’s not unexpected, whatsoever.”

Barry Nabatian, a market research analyst, said the jobs lost in Ottawa will likely be absorbed by competing stores such as Marshalls, Walmart, and Loblaws.

“Those stores will do more business, so they will be hiring some (former Sears employees), but not all,” said Nabatian.

So why couldn’t Sears Canada stay afloat?

Nabatian argued the store was too slow to adapt to the modern demands of shoppers, who insist not just on an attractive retail space but a seamless online shopping experience.

“(Sears Canada) woke up to the reality of the changing retail environment too late and they were not able to do things fast enough to make the necessary changes,” said Nabatian.

“It was basically a store for your grandparents to go shopping, and the millennials — and even some older people — they like to go to places like H&M and Forever 21 and those kinds of stores … it (Sears) just didn’t have that ‘attractiveness factor’ that new places have.”

The court overseeing Sears Canada’s operations is set to hear a motion Friday seeking approval for the liquidation and winding down of the business.

“The company deeply regrets this pending outcome and the resulting loss of jobs and store closures,” Sears Canada said in a statement on Tuesday.

— With files from Postmedia News

http://ottawacitizen.com/news/local-...23-out-of-jobs
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  #2440  
Old Posted Oct 12, 2017, 1:15 AM
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Urbsite article from a while back, re: Carlingwood and St Laurent Sears:

http://urbsite.blogspot.ca/2010/04/s...-east-end.html
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