The Bargain! Shop
From Wikipedia, the free encyclopedia
| The Bargain! Shop | |
|---|---|
| Type | Discount store chain |
| Founded | 1991 |
| Headquarters |  Mississauga, Ontario |
| Industry | Retail |
| Products | Clothing, grocery, footwear, bedding, beauty products, and housewares. |
| Parent | The Bargain! Shop Holdings Inc. |
| Website | http://www.thebargainshop.com |
The Bargain! Shop 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 assets of Bargain Harold's in 1991. The chain averaged 10,000 square feet (averaging in the mid-$100/square foot range) and grew into 90 stores within just a year of its establishment. The Woolworth variety stores, on the other hand, averaged 20,000 square feet generating sales of only in the lower $80/square foot range.
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.
