Will We Be Naked This Time Next Year?
I haven’t had much time to write lately, but believe me, my mind has been buzzing with thoughts, so you will probably see a few posts clear out of my head this week. For a few weeks now I’ve been wondering: this time next year, will many Canadians be naked? WHAT, you ask? I fear the reality is that, unless you can sew, and believe me most people who know me, know that’s not MY reality, us non-sewing folks are in REAL trouble.
I’ve been watching several chain stores file for bankruptcy or protection from bankruptcy while they “restructure.” Several years ago here in Canada we started to see big American chains buying our Canadian chains. Two big ones that stick out in my mind are the acquisition of Zellars, (like a Woolworths), by Target, and the U.S. hostile takeover of the venerable Hudson Bay Company, (the oldest department store in the world). Target quickly closed all of the Zellars and replaced with Target Canada.
As a frequent Target shopper when I lived in the U.S. I was initially excited until I saw their usually empty shelves. Within a year, they closed all the Targets in Canada and we were left without a major discount player. The Hudson’s Bay looks like it’s about to have the same fate. They don’t even bother really advertising anymore. This is the equivalent to Macy’s in the U.S. and when it’s gone, there is nothing else to take its place. For Canadians, “restructuring” by a U.S. company usually looks like this: let’s close down our Canadian locations and save our U.S. presence. This means we can probably see Old Navy/Gap/Banana Republic disappear soon, along with Victoria’s Secret. Canadian retailer Nygaard is in trouble thanks to some allegedly poor personal decisions by it’s founder Peter Nygaard. So far it looks like Canadian stores like Garage and Bootlegger are still alive.
What does this mean? Well, for those of us over the age of 30, there is a real possibility that we will be naked by this time next year. All we will be able to buy are masks. If I were you, I would firm up your friendships with your sewing friends. Just saying. You read it here first...