Company History: 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. However, fierce competition and an inability to adapt during the retail apocalypse resulted in Zellers losing significant ground in the 2000s.
In January 2011, HBC announced that it would sell the lease agreements for up to 220 Zellers stores to the US chain Target for $1.825 billion. In turn, Target announced its intention to convert many of them to Canadian locations of Target, and re-sell the remainder to other parties such as Walmart Canada, resulting in their liquidation and eventual closure. While HBC initially retained 64 Zellers locations, it announced on July 26, 2012, that all of them would be liquidated and closed by March 31, 2013, due to their lack of profitability. Ultimately, all but three selected stores were closed in 2013.
When the chain ceased, HBC converted the three Zellers-branded locations into liquidation outlets for The Bay (since renamed Hudson's Bay), with the last of those stores closing and ending the brand on January 26, 2020. As of 2023 however, the Zellers brand name has been formally reintroduced as a store-within-a-store concept inside Hudson's Bay department stores, complemented by online shopping.
In January 2011, HBC announced that it would sell the lease agreements for up to 220 Zellers stores to the US chain Target for $1.825 billion. In turn, Target announced its intention to convert many of them to Canadian locations of Target, and re-sell the remainder to other parties such as Walmart Canada, resulting in their liquidation and eventual closure. While HBC initially retained 64 Zellers locations, it announced on July 26, 2012, that all of them would be liquidated and closed by March 31, 2013, due to their lack of profitability. Ultimately, all but three selected stores were closed in 2013.
When the chain ceased, HBC converted the three Zellers-branded locations into liquidation outlets for The Bay (since renamed Hudson's Bay), with the last of those stores closing and ending the brand on January 26, 2020. As of 2023 however, the Zellers brand name has been formally reintroduced as a store-within-a-store concept inside Hudson's Bay department stores, complemented by online shopping.
Brief History: Canada is a North American country stretching from the U.S. in the south to the Arctic Circle in the north. Major cities include massive Toronto, west coast film centre Vancouver, French-speaking Montréal and Québec City, and capital city Ottawa. Canada's vast swaths of wilderness include lake-filled Banff National Park in the Rocky Mountains. It's also home to Niagara Falls, a famous group of massive waterfalls.
Item Links: We found: 1 different collections associated with Zellers - Consumer Products
- Collection N Scale Model Trains: 5 different items.
Item created by: CNW400 on 2023-11-25 22:34:27
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