Posted Jun 9, 2015, 4:53 PM
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Planet Ottawa and beyond
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Join Date: Feb 2009
Location: Greater Ottawa
Posts: 14,540
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No real surprise here:
Quote:
Blacks Photography to close all stores
MARINA STRAUSS
The Globe and Mail
Published Tuesday, Jun. 09, 2015 11:46AM EDT, Last updated Tuesday, Jun. 09, 2015 12:01PM EDT
Blacks Photography is closing all its 59 stores, unable to make a go of them in a digital age, the company said on Tuesday.
The company tried to overhaul its stores last year, transforming them into a more gallery-like setting, but they haven’t been able to “realize profitable growth,” Luiza Staniec, a spokeswoman for parent Telus Corp., said in an interview.
As a result, the stores will close on August 8, Ms. Staniec said.
The shutdown of the stores, most of them in Ontario, will leave 485 employees without jobs, and Telus will try to find them positions at its other outlets, such as Telus and Koodo stores, she said.
Telus tried to find a buyer for Blacks but wasn’t able to find a suitable suitor, she said.
Last year, the retailer tried to reshape its stores with a new prototype, which shifted the emphasis to displays of merchandise in an art-gallery-like setting, with a focus, for instance, on canvas-wrapped prints. Three stores got the makeover in the past year, but it wasn’t enough to show signs that the chain could become profitable, Ms. Staniec said.
Telus bought Blacks in 2009 for $28-million, closed almost half the stores and invested in improving the outlets as the industry moved quickly to digital alternatives.
Telus will report the financial consequences of shutting down Blacks in its next quarterly results release, expected in August.
http://www.theglobeandmail.com/report-on...phy-to-close-all-stores/article24873218/
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Quote:
Blacks Photography stores to close: reports
The Ottawa Citizen
Published on: June 9, 2015, Last Updated: June 9, 2015 12:36 PM EDT
Blacks Photography stores will be shutting down across the country, according to several media reports.
The chain has four Ottawa locations at Billings Bridge, Rideau Centre, Place d’Orléans and the Carlingwood Mall.
The closure will affect 485 employees and 59 stores, the Globe and Mail reports.
The report says the stores are expected to close in early August.
— More to come.
http://ottawacitizen.com/business/local-business/blacks-photography-to-close-reports
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