Holt Renfrew announced Thursday it is closing its stores in Ottawa and Quebec City as part of a strategic effort to focus on expanding in Toronto, Vancouver and Calgary.
The company said it will shut down the smaller 35,000-square-foot regional stores at the end of January next year. Holt Renfrew currently employs 72 people at its Sparks Street location and 85 in Quebec City.
Holt Renfrew said in a news release it “explored a number of options for its businesses in these markets.”
The upscale department store chain said that while the Ottawa and Quebec City locations performed well, it ultimately decided to concentrate on expanding its larger flagship stores on Bloor Street in Toronto as well as in Vancouver and Calgary.
“Holt Renfrew is confident in its strategy and growth plans,” president Mark Derbyshire said in the release. “We look forward to continuing to enhance our position as Canada’s destination for luxury and style.”
The company also announced it was finishing an expanded 120,000-square-foot store at Toronto’s Yorkdale Shopping Centre and will open new stores at Square One in Mississauga in 2016 and in Montreal the following year.
Holt Renfrew was founded in Quebec City in 1837 as a fur shop and is now headquartered in Toronto.
Another high-end retailer, Nordstrom, is set to open a 157,000-square-foot store at the Rideau Centre next March.