Canadian Tire taking over Bed, Bath and Beyond locations across Canada
Published May 3, 2023 at 10:18 am
Canadian Tire will soon be opening new Mark’s locations across Canada.
Canadian Tire Corporation, of which Mark’s is a subsidiary of, has agreed to acquire 10 strategic real estate leases formerly held by Bed, Bath & Beyond in Canada for $1.6 million.
Purchasing the leases, which includes Oakville’s Dorval Crossing location at 200 North Service Rd. in Oakville, will allow the giant Canadian retailer to continue building on the growth of its of its Mark’s and Pro Hockey Life (PHL) banners.
Six of the 10 leases acquired will be designated for the Mark’s relocations, which along with Oakville also include Grande Prairie, Medicine Hat, Red Deer and Strathcona County (Alberta), and Langley (BC).
Mark’s, formerly known as Mark’s Work Wearhouse, is a Canadian clothing and footwear retailer that specializes in casual and industrial wear.
“Following our 10th consecutive quarter of growth in Q4 2022, Mark’s is continuing to build on its incredible momentum in the Canadian market by strategically relocating six retail spaces to more convenient and larger sites,” said PJ Czank, President, Mark’s.
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“These relocated stores will feature more products and deeper assortments of our best brands to meet the needs of our customers in Alberta, British Columbia and Ontario.”
In addition to the Mark’s relocations, the agreement will allow CTC to implement plans for four new Pro Hockey Life (PHL) stores in Ontario.
Canadian Tire says the 10 leases combined make up more than 242,000 square feet of retail space.
Bed Bath & Beyond’s Canadian arm was granted an initial order for creditor protection in February as its U.S. parent company struggled to stay afloat, filing for bankruptcy protection itself just over two months later.
The Oakville location at Dorval Crossing was one of 54 stores that announced it was closing.
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