The Bargain! Shop
Encyclopedia
The Bargain! Shop, also known as TB!S, is a discount variety store chain operating in all Anglophone
provinces
in Canada
.
The Bargain! Shop originated as a closeout store division of Woolworth Canada, developed out of some of the bankrupt asset
s of Bargain Harold's in 1991. The chain averaged 10000 square feet (929 m²) and grew into 90 stores within just a year of its establishment.
In late 1993, in order to try to make the Woolworth variety stores profitable in Canada, 101 of 123 Woolworth stores were converted to The Bargain! Shop, therefore bringing the total number of stores to 194. Some of the larger Woolco
stores were also converted to The Bargain! Shop.
In late 1999, in a rush to try to pay the debt on time, Venator Group Inc. closed 109 stores (including all stores in the province of Quebec
) and sold to rest of The Bargain! Shop chain to a Canadian investment company. However, the closures only reduced sales from $259 million to about $100 million. The Bargain! Shop is now undergoing an aggressive expansion program that will bring the variety store chain to its peak store number.
In 2008, it was announced that The Bargain! Shop had acquired 93 of the former SAAN
locations. They are mostly located in Atlantic Canada
and Ontario
.http://www.thebargainshop.com/Press%20Release%20TB!S%20Acquires%20Saan%20Locations.htm
English language
English is a West Germanic language that arose in the Anglo-Saxon kingdoms of England and spread into what was to become south-east Scotland under the influence of the Anglian medieval kingdom of Northumbria...
provinces
Provinces and territories of Canada
The provinces and territories of Canada combine to make up the world's second-largest country by area. There are ten provinces and three territories...
in Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
.
The Bargain! Shop originated as a closeout store division of Woolworth Canada, developed out of some of the bankrupt asset
Asset
In financial accounting, assets are economic resources. Anything tangible or intangible that is capable of being owned or controlled to produce value and that is held to have positive economic value is considered an asset...
s of Bargain Harold's in 1991. The chain averaged 10000 square feet (929 m²) and grew into 90 stores within just a year of its establishment.
In late 1993, in order to try to make the Woolworth variety stores profitable in Canada, 101 of 123 Woolworth stores were converted to The Bargain! Shop, therefore bringing the total number of stores to 194. Some of the larger Woolco
Woolco
Woolco was an American-based discount retail chain. It was founded in 1962 in the city of Columbus, Ohio, by the F.W. Woolworth Company. It was a full-line discount department store unlike the five-and-dime Woolworth stores which operated at the time. At its peak, Woolco had hundreds of stores in...
stores were also converted to The Bargain! Shop.
In late 1999, in a rush to try to pay the debt on time, Venator Group Inc. closed 109 stores (including all stores in the province of Quebec
Quebec
Quebec or is a province in east-central Canada. It is the only Canadian province with a predominantly French-speaking population and the only one whose sole official language is French at the provincial level....
) and sold to rest of The Bargain! Shop chain to a Canadian investment company. However, the closures only reduced sales from $259 million to about $100 million. The Bargain! Shop is now undergoing an aggressive expansion program that will bring the variety store chain to its peak store number.
In 2008, it was announced that The Bargain! Shop had acquired 93 of the former SAAN
SAAN Stores
SAAN was a chain of discount department stores in Canada that began in Winnipeg, Manitoba.SAAN had more than 350 stores in the late 1990s, but by May 2005, after it emerged from bankruptcy protection, this was reduced to 142 outlets in a number of communities across Canada...
locations. They are mostly located in Atlantic Canada
Atlantic Canada
Atlantic Canada is the region of Canada comprising the four provinces located on the Atlantic coast, excluding Quebec: the three Maritime provinces – New Brunswick, Prince Edward Island, and Nova Scotia – and Newfoundland and Labrador...
and Ontario
Ontario
Ontario is a province of Canada, located in east-central Canada. It is Canada's most populous province and second largest in total area. It is home to the nation's most populous city, Toronto, and the nation's capital, Ottawa....
.http://www.thebargainshop.com/Press%20Release%20TB!S%20Acquires%20Saan%20Locations.htm