Tuesday, January 17, 2017

Reitman's set to join national retail exit from Rupert

The Reitman's location in Prince Rupert
is heading towards its final days on
the North Coast as the retail chain
prepares to close operations
The shelves continue to empty at one retail location in the city and in this case there are no plans to bring in any new product in for re-stocking.

With the Days of Christmas sales now over, another Prince Rupert retailer is preparing to cease operations in the city, with the Reitman's chain making its plans to close it's Rupert Square location bringing an end to decades of fashion shopping at the long time commercial outlet for North Coast residents.

Company officials shared the news with employees earlier this month, setting in motion the exit plan from the Prince Rupert commercial scene. While no public timeline has been advertised at the store, indications are that the store could wrap up its time in the city by the end of the month.

The national retailer recently made note of some of it's financial results and it's recent moves at cost cutting measures, including the closure of 81 stores to optimize performance in the chain.

In the last year the Reitman's chain, as well as the other retail groups that it operates, have seen store reductions take place across the country, shrinking to 693 outlets in total, down from 773 from the year end previous.

The move to start the New Year with a closure makes the Prince Rupert outlet now destined to be part of the numbers to be found when the 2017 year end numbers are released.

The closure will make for another blow to the city's commercial scene, not only making for another empty spot in the Rupert Square Shopping Centre and the loss of one of it's earliest and longest lasting tenants, but continuing with a trend of late for national chains to leave the community.

Last year, two high profile national chains closed operations in the city, with Fields once again shutting its doors over the summer, while Carter's Jewellers called it quits on the North Coast in November.

With the national stores taking their leave one by one, the retail sector is finding two themes continuing to evolve locally.

The first, the rise of online shopping and the significant dent it is having when it comes to local purchasing, the second is the growth of small independent businesses in the community as local entrepreneurs continue to try and carve a segment of the market for themselves.

You can find more items related to the City's commercial sector from our archive page here.

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