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List of Canadian retail closures (21st century) Throughout the 21st century, retail businesses in Canada have felt the pressures of foreign store expansions into the country, as well as a shift towards online retail. As a result, closures have been a mix of stores unique to the nation, as well as newcomers like Target Canada.
Walmart Canada. Walmart Canada is a Canadian retail corporation and the Canadian branch of the U.S.-based multinational retail conglomerate Walmart. Headquartered in Mississauga, Ontario, it was founded on March 17, 1994, with the purchase of the Woolco Canada chain from the F. W. Woolworth Company. Originally consisting of discount stores ...
In November 2017, Ray J co-founded a direct-to-consumer electronics brand called Raycon. Raycon sells wireless audio products such as earbuds and headphones. [ 35 ]
Zellers was a Canadian discount store chain founded by Walter P. Zeller in 1931. It was acquired by the Hudson's Bay Company (HBC) in 1978, and after a series of acquisitions and expansions, peaked with 350 locations in 1999. [ 2 ] However, fierce competition and an inability to adapt during the early stages of the retail apocalypse resulted in Zellers losing significant ground in the 2000s.
Target Canada opened its first store in March 2013, and by January 2015 was operating 133 locations throughout Canada. Its main competition included Walmart Canada, Loblaws, Shoppers Drug Mart, and Canadian Tire.
Walmart shoppers are smitten. "Great 4K. Scoured the net locally and this was the best price and features I was able to find in a 65” TV," said one.
Its full-line department stores focus on high-end fashion apparel, accessories, and home goods; flagship stores carry a bigger range and selection of goods than typical locations. The flagship stores are often multi-storey, historic buildings and are in Canada's largest cities (Toronto, Montreal, Vancouver, Calgary, and Ottawa).
Retail apocalypse refers to the closing of numerous brick-and-mortar retail stores, especially those of large chains, beginning around 2010 [ 2 ][ 3 ] and accelerating due to the mandatory closures during the COVID-19 pandemic. In 2017 alone, more than 12,000 physical stores closed. The reasons included debt and bankruptcy in the face of rising ...
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