Swordgeek

Hey, question for folks: Are the stores open today? Like right now? Or did they lock up when they announced this?

Well, it’s going out of business because it’s owned by an American real-estate hedge fund who has been deliberately driving it into the ground.

At the end of the day, all of that retail real estate is going to be parcelled up and leased to other companies - probably American.

There are no more Canadian department stores. Woodwards, Eaton’s Simpsons-Sears, Zellers, Woolco, and now The Bay. They’ve all been destroyed by Walmart and Amazon. Beaver, Rona, and Peavey Mart are all destroyed or consumed by Lowe’s and Home Depot.

The primary driver of retail in Canada is now American hedge and venture capitalism, which inherently harms consumers and employees. This is not going to make things better for anyone except the obscenely wealthy.

Stupid question to ask after two weeks of this shit.

China is the only place that can get a factory from idea to production in two weeks, and that’s because they’ve got a massive factory manufacturing infrastructure (and are notorious for cutting corners).

It’s going to be 3-6 months before manufacturing of basic stuff will start to be brought back in-house. In the meantime, we’ll forge new supply chain relationships with other suppliers in other countries - more than one, hopefully.