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Victoria retail thread: retailer news, comings and goings


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#8921 Mike K.

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Posted 23 December 2024 - 11:38 AM

The windows have been covered at the former Dollar Tree at Pandora for what feels like time immemorial. With every year, more plywood goes up.

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#8922 UDeMan

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Posted 23 December 2024 - 01:04 PM

I'm sure that Dollorama on Douglas Street downtown will shut down once their lease is up. They can't be making that much profit there with all the theft. Must also be hard to retain staff there.

#8923 Mike K.

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Posted 23 December 2024 - 01:40 PM

They have removed the self-serve kiosks and have staffed cashiers only, so that should be helping. But it must be challenging as heck to keep that store protected and staffed. Shoppers as well, same problems.

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#8924 Victoria Watcher

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Posted 02 January 2025 - 12:20 PM

$61/square feet

 

 

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

 

 

Available for the first time in over 30 years! The subject property is at the focal corner of Victoria's most iconic shopping corridors, being Government Street and Lower Johnson (LoJo). This area includes one of the highest concentrations of independent boutiques in Canada and is the epicenter of fashion and tourism in Victoria. Neighbouring stores include Arc’teryx, Fjallraven, Complex, Gabriel Ross, Flux and Stone, Stock Home Design, Still Life, MEC and many more. The unit is 2092 sf, can be expanded to 2648, or potentially demised into 2 smaller units. 520 sf bonus storage mezzanine included at no charge.

 

 

 

978504_2.jpg


Edited by Victoria Watcher, 02 January 2025 - 12:21 PM.


#8925 Mike K.

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Posted 02 January 2025 - 12:28 PM

So that’s $10,634.33 per month, base rent at 2,092 square feet. Then there are the operating expenses associated to the lease, that include property tax.


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#8926 Matt R.

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Posted 02 January 2025 - 01:05 PM

20k a month triple net? That’s nuts.

#8927 Mike K.

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Posted 02 January 2025 - 01:06 PM

Why do you say $20k?


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#8928 Matt R.

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Posted 02 January 2025 - 01:08 PM

Am I way off? Property tax plus insurance plus maintenance, more or less than $10k?

#8929 Mike K.

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Posted 02 January 2025 - 01:12 PM

It's likely around $20/foot for those items, I think. Maybe $25? So add $3,480 to $4,358 per month. I could be wrong, though. Every property is different. Regardless, your first $500 in profit every day from your wares goes to pay for the space.


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#8930 Victoria Watcher

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Posted 02 January 2025 - 01:12 PM

I think $15 might be a good figure.


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#8931 Barrister

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Posted 02 January 2025 - 01:19 PM

You have to sell a lot of stuff to make it worth while.



#8932 Matt R.

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Posted 02 January 2025 - 01:42 PM

Oh that’s not bad then. :banana:

#8933 Victoria Watcher

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Posted 08 January 2025 - 11:45 PM

Frank And Oak fashion retailer files for bankruptcy protection

 

https://cheknews.ca/...ection-1232924/

 

 

 

Comark Holdings Inc., the Vancouver parent company of clothing retailers Ricki’s and cleo, announced the closure of both stores in all retail locations on Tuesday, Jan. 7, 2025.

 

 

[...]

 

 

The Company also has plans to liquidate some of the Bootlegger stores while it’s currently exploring restructuring options.

 

“The Company intends to seek a further Court order approving the full liquidation of all Ricki’s and cleo and certain Bootlegger stores. The stores will remain open during this process,” stated Comark.


Edited by Victoria Watcher, 08 January 2025 - 11:46 PM.


#8934 Victoria Watcher

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Posted 10 January 2025 - 11:09 PM

Rare opportunity to occupy a retail space adjacent to Windsor Park, in the heart of south Oak Bay. Currently improved as a hair salon, this is the first time this unit has been on the market for lease in decades. An incoming barber or salon tenant will benefit from years of established goodwill and a simple and affordable gross lease. Other uses will also be considered. Successful neighbouring tenants include the charming Nar Cafe and Bistro , Features Spa Services and W&J Wilson Clothiers.

 

$2,000/Monthly

 

https://www.realtor....y-south-oak-bay

 

984239_2.jpg



#8935 Mike P.

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Posted 11 January 2025 - 12:49 PM

MEC sold for the 2nd time in 5 years

 

https://edmonton.cit...sold-again/amp/



#8936 Mike K.

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Posted 14 January 2025 - 07:47 PM

Flight Cannabis is opening a new location in the former TD Bank location of West Side Village.

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#8937 Barrister

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Posted 14 January 2025 - 08:26 PM

Is MEC about to be broken up?



#8938 Mike K.

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Posted 14 January 2025 - 10:23 PM

One supplier to MEC tells CityNews on Friday that the news of the sale comes as no surprise. According to the supplier, the company has not paid its invoices in months and is currently on hold in their credit department.



Crazy.

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#8939 Blair M.

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Posted 15 January 2025 - 06:44 AM

As an original member of the communal MEC dating back to the mid-'70's when you had to have a membership, and had only the Vancouver store to shop at, I'd note that MEC's line-card has had items dropping off it on an ongoing basis since the sale to Kingswood Capital a few years ago.

 

MEC has nowhere near the depth of inventory today as it had even a few years ago. 

 

MEC's rather vast reduction in available inventory, combined with Amazon and other online Western Canadian camping/overlanding/hiking suppliers has left MEC as just another camping store, far removed from its days as THE camping store in B.C.

 

I now first check for items I'm looking for first at Sport Chek/Atmosphere at Hillside or Langford rather than fight traffic and hunt for parking downtown. If I can't find what I'm looking for there, I look online.

I'm sure many others have taken to following that same pattern as well.



#8940 dasmo

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Posted 15 January 2025 - 06:54 AM

End of an era.
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