Zellers Stores Closing
After having been in business since 1931, almost all of the 253 remaining Zellers stores will be closed by March 2013.
Since 1978 Zellers has been a subsidiary of Hudson Bay Company but has struggled for the last few years, with competition mainly coming from Walmart.
Approximately 135 Zellers locations have been sold to the American giant Target, a new entry in the Canadian retail market, who will be opening their first of 125 locations in the spring of 2013. At those soon-to-be Target locations, Zellers’ employees are being encouraged to apply for open positions.
Most of the remaining 64 stores will be closed, resulting in a loss of approximately 6400 jobs throughout the country. Hudson Bay Company has suggested that some of these 64 store locations, whose leases weren’t sold to Target, may be reopened with new retail names and re-branding but have offered no additional details.
Hudson Bay Company, which has been in existence since 1670 when a Royal Charter was granted by King Charles II, has other, more upscale, retail chains including The Bay, a full-scale department store, Home Outfitters, HBC’s bed, bath and kitchen chain, Fields clothing stores, and the recently acquired clothier Lord & Taylor.