Hart Stores
- For the defunct American retail chain, see Harts Stores.
| Type | Public |
|---|---|
| Traded as | TSX-V: HIS |
| Industry | Retail |
| Headquarters | Laval, Quebec, Canada |
| Key people | Michael Hart |
| Employees | 1,225[1] |
| Website | www.hartstores.com |
Hart Stores Inc. (TSX-V: HIS) is a junior mid-sized discount department store dominant in the region of Eastern Canada. It was founded in 1960 by Harry Hart, in Rosemère, Quebec. Hart stores are based in the provinces of Quebec, New Brunswick, Nova Scotia, Newfoundland and Labrador and Ontario. The head office was originally based in the Montreal borough of Anjou but moved to Laval, a northern suburb of Montreal, in early 2006.
Contents |
The company currently operates 90 stores across Canada, branded as Hart, Bargain Giant or Géant des aubaines, primarily in smaller and suburban markets.
From a historical level of losses, before the plan of arrangement, the company began to report sustained and consistent profits under new leadership. In fiscal 2006 the company reported net profits of $7.0 million.
On October 23, 2007, the company was charged and fined by the Ontario Ministry of Labour for violating safety regulations after a worker's head was crushed.[2]
[edit] Hartco
The Hart clothing retail operation was one of several diverse retail and inside-sales businesses that operated under the Hart family umbrella. Computer retail and corporate IT services fell under their Hartco brands (managed independently from Hart Stores), included Metafore, Northwest Digital, CompuSmart, MicroAge and their original Compucentre chain of stores. The Telephone Booth / Cabine Téléphonique, a chain of stores that sells wired, cordless and cellular phones, was operated by Hartco until its recent purchase by Glentel.
During the Annual shareholders meeting held on June 15, 2000, the shareholders approved a plan of arrangement to distribute its wholly owned subsidiaries of computer and IT services to the Company's common shareholders. The arrangement resulted in the formation of a separate publicly traded company operating under Hartco Inc. (TSX: HCI). The department store division operated as Hart Stores and was listed on the Toronto Stock Exchange.
[edit] See also
[edit] References
[edit] External links
 |
This article about a Canadian corporation or company is a stub. You can help Wikipedia by expanding it. |
Update: October 2011
The Hart Stores company has run into financial difficulties, and was granted bankruptcy protection under the Companies' Creditors Arrangement Act in Canadian law. Tiger Capital Group LLC (Receiver?) is closing 32 of the company's 92 Canadian stores, according to a report by QMI Agency. (http://www.wellandtribune.ca/ArticleDisplay.aspx?e=3344615). 5 of the stores to be closed are located in Ontario.
