The Bargain Shop in downtown Truro preparing to close

Harry Sullivan
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One of 64 stores shutting down across Canada

TRURO – Another Truro business is getting set to close its doors.

The Bargain Shop on Prince Street in Truro will soon be closing its doors along with 63 of its sister stores across the country. The location is the site of the Woolworth store.

The Bargain Shop on Prince Street is in the beginning stages of liquidation mode.

Store manager Jim MacInnis provided a telephone number to the company’s head office in Ontario but calls to that location were not returned prior to press deadline.

A source within the company who did not want to be identified, however, said the Truro store is one of 64 that are being closed across the country. The store is expected to be in operation until about mid-April.

Downtown Truro Partnership president Brent MacDonald expressed disappointment with the pending shutdown, in light of the rebuilding that has taken place in the downtown core following a number of other business closures in recent times.

“The current news of The Bargain Shop’s impending closure is most unfortunate and the Downtown Truro Partnership is very sorry to see a business close when the central core has been experiencing such a strong recovery,” MacDonald said.

“Downtown Truro, like other communities in Nova Scotia, has been affected by business closures but has managed to hold its head above water with new commercial investment and redevelopment.”

In order to maintain further recovery however, MacDonald suggested that continued infrastructure investment, focus on infill development, and the encouragement of a mixed-use town centre “are more important than ever to sustain businesses such as The Bargain Shop and to encourage a healthy and vibrant downtown.”

 

Information on the company’s website states that The Bargain Shop holdings were granted protection last month from its creditors by the Supreme Court of Ontario under the Companies’ Creditors Arrangement Act (CCAA) in Canada.

Although the protection is for an initial period ending March 28, the order states that it can be extended as required and approved by the court.

The order states that under CCAA protection, all proceedings on the part of The Bargain Shop’s creditors are stayed, while it restructures its business and financial affairs.

The company’s website says the CCAA proceedings are requested to provide time “to develop a strategic plan that will ensure the long term success and financial stability of The Bargain Shop.”

Any creditor related inquiries regarding the CCAA proceedings affecting The Bargain Shop should be directed to the Monitor’s Hotline at 1 (855) 941-1768 or (416) 941-1768. 

 

Facts:

The Bargain Shop is a successor to the former Canadian division of the Woolworth's retail chain, which started doing business in Canada in the 1920s.

The Bargain Shop in Truro is located in the former Woolworth store, which stood for many years as a local institution in the Hubtown, as in other towns and cities across the country.

Woolworth stores were bought out by The Bargain Shop during the late 1990s when the company’s U.S. corporate parent was looking to divest its general merchandise division.

Organizations: The Bargain Shop, Downtown Truro Partnership, Woolworth Supreme Court

Geographic location: Truro, Canada, Ontario Prince Street Nova Scotia U.S.

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Recent comments

  • Rusty Brown in Cobourg, Ontario
    March 20, 2013 - 05:58

    I'm with those who enjoyed both the bargains and the friendly, helpful staff at TB!S over the years. I moved to my small town in January 2007, and one of my best memories of that time while getting settled was the friendly and helpful staff here at the Cobourg location during a lonely and stressful time in the dead of winter, when life is at its toughest. I wish them all the best, whatever happens next. RB in Cobourg, Ont.

  • Former Customer
    March 07, 2013 - 19:15

    It really is no surprise to see this store closing...with the way the staff treats customers and the management's disregard to correct the problems. Who would want to shop there, to be either totally ignored, insulted or forced to hear such vulgar language and gossip. One rude experience was enough for me....even with close out sales I will not go out my way to grace the doors of this business. The smaller boutiques along Inglis Street and parts of Prince St may be more expensive but at least when you walk in you are instantly greeted with warmth and sincerity making it a pleasure to return over and over again.

    • Me
      March 11, 2013 - 14:31

      My experience has been the complete opposite. I'm almost reminded of the story about the dirty windows.

  • siqiniq
    March 07, 2013 - 18:45

    Mr. Mac Donald, all the infrastructure in the world isn't going to keep this business in Truro. The entire company has gone bankrupt. That means that they're not going to keep one store in one small town open soley because the town improved the infrastructure. You're using the wrong song for this one.

  • Marilyn Comeau
    March 07, 2013 - 16:21

    Sorry to hear it is closing. We need such a store in the down town for people to be able to walk to. Some seniors can't always drive or get to shopping malls or even want to. I will miss the store.

  • P. Lyn Brown
    March 07, 2013 - 12:11

    It's unfortunate news. The store is a shopper's delight in searching for bargains. The staff is always helpful and courteous. It's in a convenient location, attracting many of the uptown workers in the area. I wish each of the employees the best of luck in their next work-related venture. Thank you for all the help and good finds over the years.