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Victoria retail thread: retailer news, comings and goings


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#6241 Victoria Watcher

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Posted 27 September 2020 - 03:24 PM


Members of Mountain Equipment Co-op (MEC) fighting its takeover by an American investment firm say the hiring of an executive from a U.S. company that makes footwear for the military and police clashes with the company's values.


https://www.cbc.ca/n...itary-1.5740922

#6242 Matt R.

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Posted 27 September 2020 - 11:40 PM

Heard some chat last night about a long established restaurant having huge cash flow & banking issues.. This will shock and surprise many! When the dominos start to fall, it is going to be frightening.

 

I am beginning to dread the thought of Winter...

 

TFord

Not being able to serve liquor past 10pm is hurting a LOT of restaurants who cater to that market.  The later evening is huge for many “casual fine dining” spots. It’ll be the final nail in the coffin for some I am sure. 
 

Matt. 



#6243 Matt R.

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Posted 27 September 2020 - 11:43 PM

christmas usually offers up some revenue for restaurants and bars.  formal and informal gatherings.  but i suppose most of that will be gone this year.

 

is anyone doing a staff christmas party?

We always do a big end of season bash, usually take the crew off island for some fun and games but of course this year nothing. Not planning a Christmas function either. 
 

Matt. 



#6244 Victoria Watcher

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Posted 29 September 2020 - 07:44 AM

Beleaguered outdoor recreation retailer Mountain Equipment Co-op is opposing a proposed delay of the company’s sale to a U.S. private investment firm, saying there is "significant urgency" to closing the deal.

 

Kevin Harding with the Save MEC campaign filed an application in a B.C. court last week to adjourn the sale to California-based Kingswood Capital Management, part of an effort to preserve the retailer’s status as a co-operative.

The group said it wants to "explore alternative options to address MEC’s liquidity issues," including selling real estate, obtaining operating loans and bringing in a credit card rewards program.

 

In a response filed Monday, the company doubted the group’s ability to help address MEC’s cash flow issues, noting that the proposed sources of potential funding don't involve "concrete commitments or realistic options."

The Vancouver-based company said given the number of factors that need to be addressed before the sale closes, including negotiations with landlords, the proposed adjournment would put the deal in jeopardy.

 

MEC said it's urgent for the sale to close before the retailer experiences "significant weekly cash flow losses," which may worsen with rising COVID-19 rates.

The company added there is a "real risk" that a delay could lead to the closure of MEC’s operations.

"The transaction has to close in a timely manner before MEC’s forecasted losses escalate and in order for the purchaser to take advantage of the upcoming holiday sales periods," MEC said in the court filing.

 

https://www.timescol...wood-1.24211766



#6245 Victoria Watcher

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Posted 30 September 2020 - 06:07 AM

for lease:

 

Central ""Quadra Village"" location, 65 foot frontage, accessible, current improvements in excellent condition

 

https://www.realtor....ctoria-hillside

 

857017_1.jpg



#6246 Rob Randall

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Posted 30 September 2020 - 08:40 AM

I love those upper floor apartments. I've never been inside but the outside looks cool. I don't think there's anything in town like them.


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"[Randall's] aesthetic poll was more accurate than his political acumen"

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#6247 Rob Randall

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Posted 30 September 2020 - 09:18 AM

That's the building where the car hit the coffee shop, knocking it off its foundation and closing it for nearly a year.


"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#6248 Belleprincess

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Posted 02 October 2020 - 08:15 PM

Heard some chat last night about a long established restaurant having huge cash flow & banking issues.. This will shock and surprise many! When the dominos start to fall, it is going to be frightening

I am beginning to dread the thought of Winter...

TFord


Which restaurant? We are all friends here

#6249 Brantastic

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Posted 03 October 2020 - 02:52 PM

The business moving into the former Russell Books location is the Papery from one block away.



#6250 Rob Randall

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Posted 03 October 2020 - 07:13 PM

^Great news.

 

The building that used to house the former import furniture store and the Type N' Write Shop at Quadra near Hillside beside San Remo is being gutted and rebuilt as the new home of the Victoria Ballet Academy.


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"[Randall's] aesthetic poll was more accurate than his political acumen"

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#6251 A Girl is No one

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Posted 04 October 2020 - 08:24 PM

^Great news.

The building that used to house the former import furniture store and the Type N' Write Shop at Quadra near Hillside beside San Remo is being gutted and rebuilt as the new home of the Victoria Ballet Academy.

I wonder why they are leaving downtown...

Edited by A Girl is No one, 04 October 2020 - 08:24 PM.

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#6252 Jackerbie

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Posted 04 October 2020 - 11:05 PM

^Great news.

The building that used to house the former import furniture store and the Type N' Write Shop at Quadra near Hillside beside San Remo is being gutted and rebuilt as the new home of the Victoria Ballet Academy.


Been in the works for a while now, I think they applied for the parking variance in Feb 2019. I thought construction was done already but I guess not!

#6253 Rob Randall

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Posted 05 October 2020 - 06:28 AM

No, they only started gutting the structure a few months ago. and I mean gutted: only three cinder block walls remained. It's still being framed out so they're a while from finishing. Story is the construction company.


"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#6254 Victoria Watcher

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Posted 09 October 2020 - 03:32 AM

This is an exceptional retail property in the downtown core that has been occupied for the last 35 years by Hughes Clothing. The building has exceptional ceiling heights and heritage features and is located on the north (sunny) side of Yates Street in close proximity to Government Street. Downtown Victoria's largest parkade is located opposite on Yates Street offering convenient parking for customers and staff. The building is vacant and ready for a new tenant.

 

857813_1.jpg

 

https://www.realtor....ctoria-downtown

 

 

564 Yates St - $2,250,000

 

 

Hughes has bringing Victoria carefully selected designs from around the world for men and women for over 35 years. Originally housed in a heritage building in downtown Victoria, we are starting our exciting next chapter at 2187 Oak Bay Avenue.

 

https://www.hughesclothing.com/about

 

 

they have moved into the space formerly occupied by athlone/maritime travel.


Edited by Victoria Watcher, 09 October 2020 - 03:46 AM.


#6255 Rob Randall

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Posted 09 October 2020 - 06:10 AM

The second floor was the Victoria College of Art gallery during the 80s, 90s. A beautiful space with pristine hardwood floors, high ceiling and skylights, it was as nice as any Manhattan Soho gallery. I could see someone adding a set back top story and turning into apartments. Or maybe office but who knows how that's going to go, they'll need revenue to pay back that price tag.


"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#6256 Barrrister

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Posted 09 October 2020 - 07:08 AM

Considering that downtown is beginning to look like the Zombie apocalypse the price might be a little high. Oak Bay seems to be a great location for them. 



#6257 Jackerbie

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Posted 10 October 2020 - 09:27 AM

The optometry store going into 1300 Government is Bailey Nelson, a brand out of Australia. Seems they plan to open this month

#6258 Rob Randall

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Posted 10 October 2020 - 02:07 PM

Due to the shortage of various cleaners and sanitizers Walmart has had to import some English-labeled products intended for sale in the USA. Because these products don't have bilingual labels there is a sign posted to the effect that certain products may not have French on the label and if any unilingual consumers need to access bilingual product information they can go to the manufacturers' website.

 

Of course, the sign is only in English.


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"[Randall's] aesthetic poll was more accurate than his political acumen"

-Tom Hawthorne, Toronto Globe and Mail


#6259 tommy

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Posted 10 October 2020 - 09:50 PM

Due to the shortage of various cleaners and sanitizers Walmart has had to import some English-labeled products intended for sale in the USA. Because these products don't have bilingual labels there is a sign posted to the effect that certain products may not have French on the label and if any unilingual consumers need to access bilingual product information they can go to the manufacturers' website.

 

Of course, the sign is only in English.

maudits anglais!



#6260 Barrrister

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Posted 11 October 2020 - 04:18 AM

I was discussing this with my wife and we are both a bit surprised that more retailers have not gone under so far. 



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