Holt Renfrew to close Edmonton store in 2020
Published Tuesday, May 14, 2019 10:55AM MDT
Last Updated Tuesday, May 14, 2019 6:38PM MDT
Holt Renfrew is closing their Edmonton location. The premium retailer, which is located in Manulife Place in downtown Edmonton, will close its doors on January 11, 2020.
Holts has closed other Canadian stores over the past few years, citing the need to focus on larger stores with high end retailers Nordstrom and Saks entering the Canadian market.
“The decision to close our smallest regional store in Edmonton was difficult, and we did not take the decision lightly. This store is led by a great team that has performed well and we’ve cherished our history in the community,” said Robert Zeidel, Chief Operating Officer, Holt Renfrew.
University of Alberta School of Retailing Executive Director Heather Thomson told CTV News she wasn't surprised to hear that the company had made this decision. "I think that when you look at the Holt Renfrew model based on the other stores in the other cities that are doing quite well, you can see that the Edmonton location hasn’t had enough investment to even keep up with that sort of brand of the luxury goods."
"So on their end this is quite small," Thomson said. "But it’s going to leave a very large vacancy in the downtown retail area for Edmonton. That will be up to the developers or building owners what they will do with that space."
Zeidel says LRT construction downtown was not a factor in the decision to close the store.
About 100 employees at the Edmonton location will be impacted.
Holt Renfrew has been in Edmonton since 1950. The store was originally located on Jasper Avenue, and moved to Manulife Place in 1982.