TRURO – Construction has begun on a new Dollarama store in Truro.
Construction has begun on a new Dollarama store in Truro.
A standalone, 9,200 sq. ft. building is being built in front of the Reitmans store across from the Wal-Mart parking lot.
Construction at the site began this week by Smart Centres, Canada’s largest developer of unenclosed shopping centres.
A spokesperson at Smart Centres said she could not disclose who they are building the store for, however, a building permit has been issued at the site for Dollarama.
Dollarama currently has a store at the Truro Mall and manager Sharon Sears said that location will remain open.
“I assume it’s going to be business as usual,” she said, emphasizing that the existing store is not closing to make room for the new site.
The store is expected to open in the spring.
Dollarama is a chain of 721 dollar stores across Canada with its headquarters in Montreal.
Since 2009, Dollarama has been Canada's largest retailer of items for three dollars or less.
The majority of items are priced at $1 or less although in early 2009 Dollarama also introduced items priced up to $2. The store began to
introduce items at $2.50 and $3 this summer.
The chain was founded in 1992 in Quebec by current CEO, Larry Rossy, a third generation retailer.
In 2004, 80 percent of the chain was sold for $850 million US, to a private equity fund, Bain Capital, of Boston.