Alberni Zellers store part of US Target deal

The local Zellers store on Third Avenue is part of the deal that saw Minneapolis-based Target Corp. purchase Zellers stores' from the Hudson's Bay Company.

The local Zellers store on Third Avenue is part of the deal that saw Minneapolis-based Target Corp. purchase Zellers stores’ from the Hudson’s Bay Company.

The $1.8-billion deal was concluded with HSBC last week, and will see Target take over as more than 200 Zellers stores across Canada.

Mayor Ken McRae made the announcement at Monday night’s city council meeting.

According to city economic development manager Pat Deakin, Target will cherry pick the stores.

HSBC will likely keep the stores whose buildings are wholly owned by them.

The local store is leased and is reported to be one of the ones that was acquired in the deal.

A subsidiary company of Target may buy the remaining stores.

However, Target “…is not pursing opening stores in every community where they bought assets,” Deakin said.

Deakin said he is “taking a pro-active approach” in lobbying Target officials to stay in Port Alberni.

“We’re not waiting for them..we’re going after them,” Deakin said.

According to its website Target plans to spend more than $1-billion to convert up to 150 of the stores to its own flag in the next three years.

reporter@albernivalleynews.com

Just Posted

Wedding plans derailed following City of Port Alberni’s train announcement

Five wedding parties are scrambling to find alternate transportation arrangements to McLean… Continue reading

Kids help Alberni Aquarium build rockfish luminary for next exhibit

Swimming For Change takes over in time for spring break

Spring fishery closures mulled for south coast

Fewer fish are returning to rivers and more conservation needed, say feds

One dead, two seriously injured in Hwy 4 crash west of Port Alberni

A man has died following a single-vehicle collision west of Port Alberni… Continue reading

Risk of ‘deadly avalanches’ leads to warning for B.C.’s south coast

Weak layer of snow on Vancouver Island, Lower Mainland could trigger an avalanche

National Energy Board approves Trans Mountain pipeline again

Next step includes cabinet voting on the controversial expansion

Two more measles cases confirmed in Vancouver

It brings the number of total cases within the city connected to the outbreak to ten

B.C. Special Olympics officially underway in Vernon

Athlete’s Oath: “Let me win. But if I cannot win, let me be brave in the attempt.”

Vancouver Aquarium wants your help to name a baby killer whale

The public helped name Springer’s first calf, Spirit, and is being asked to help with the second

Guards protest firing of fellow officers charged with assault at B.C. prison

Corrections officers demonstrated in Maple Ridge on Friday afternoon

Skier dies at Revelstoke Mountain Resort

Cause of death for young man has not been released

R. Kelly charged with 10 counts of sexual abuse

R&B star has been accused of sexual misconduct involving women and underage girls for years

More sailings coming to 10 BC Ferries’ routes

Transportation Minister Claire Trevena said the sailings were originally cut in 2014

Most Read