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| 1910 ad for new Toronto store |
Holt Renfrew says it will close its stores in Ottawa and Quebec City at the end of January 2015. The decision is taken in the face of what is expected to be intense new competition across the country from Nordstrom and in Toronto from Saks. The company says the Ottawa store has 72 employees, while the Quebec City store has 85. But is the profound turning of the corner in Canada’s retail history that grips the attention as much as the job losses. Founded in 1837 as a superior fur shop in Quebec City, Holt Renfrew (or Holt’s) has been Canada’s premier clothing store for women for more than a century. Holt Renfrew is focusing expansion plans on its key markets in Vancouver, Calgary, Edmonton, Toronto and Montreal. Holts says it will expand and renovate its Bloor St. store in Toronto, including the addition of a new facade. Stores in Vancouver and Calgary will also be updated.
