National

Chapters To Close Robson Store In Downtown Vancouver; Blames Rent Hike

Darpan News Desk The Canadian Press, 20 Jan, 2015 11:22 AM

VANCOUVER — Indigo Books & Music Inc. (TSX: IDG) says it will shut down its Robson Street Chapters location by the end of June because of a rent increase.

Canada's largest book retailer says a "very significant rent increase" made continued profitability untenable at the location.

CEO Heather Reisman said in a statement that "an increase of this magnitude would quite simply make this vibrant, profitable store unprofitable."

Indigo said it plans to open another location in the same area this year.

Reisman said the company continues to review all elements of its operations and looking at new real estate opportunities.

Indigo did not say if any employees will be laid off, but said it is working with Human Resources, regional directors and store management to support affected employees.

Prev Next

MORE National ARTICLES

Breeding attempt with Toronto Zoo giant panda didn't produce pregnancy

TORONTO — The Toronto Zoo says one of its star giant pandas isn't pregnant after a breeding attempt wasn't successful.

Breeding attempt with Toronto Zoo giant panda didn't produce pregnancy

Facts and key dates in Ashley Smith case

Canadian prison authorities on Thursday rejected core recommendations made by the inquest into the horrific choking death of troubled teen Ashley Smith. Here are some facts:

Facts and key dates in Ashley Smith case

Feds response to Ashley Smith inquest termed `Orwellian`

TORONTO — Canadian prison authorities are still looking at ways to cut the use of segregation and the time prisoners are forced to spend in isolation, the government said Thursday in responding to the Ashley Smith inquest.

Feds response to Ashley Smith inquest termed `Orwellian`

Commons security receive rousing tribute from MPs as Parliament set to recess

OTTAWA — Security officers who guard the House of Commons were given a rousing tribute in the chamber they are there to protect.

Commons security receive rousing tribute from MPs as Parliament set to recess

Tory member Michael Chong's bill to re-empower MPs passes another hurdle

OTTAWA — A Conservative backbench MP's bill designed to restore a measure of power to MPs in Parliament has passed another critical hurdle.

Tory member Michael Chong's bill to re-empower MPs passes another hurdle

Christmas likely can't come early enough for embattled Fantino, government

OTTAWA — Longtime denizens of Parliament Hill know Veterans Affairs as a troublesome, thankless ministerial assignment, but it rarely generates the kind of sustained political heat the Harper government is hoping will dissipate with the coming Christmas break.