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2013-12-09 at 14:55

Short stay for Big Lots store in Thunder Bay

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By tbnewswatch.com

It's going to be a short stay in Thunder Bay for the city's Big Lots store.

Big Lots opened at the end of October at the former Liquidation World location at Northwood Mall. But there is now word that the discount operation will be shut down in the near future. 

The retailer’s parent company, Big Lots Incorporated, says its part of a move to close 78 of their stores country-wide. 

Officials with the company say it simply hasn't been able to gain the traction in the Canadian market that it had anticipated.  

There is no word yet on the exact date of the closure.  

(Thunder Bay Television)

Tbnewswatch.com(14)

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Comments

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rootbear says:
I feel sorry for all the people that raced down there and made their purchases. No warranties now. Call this the curse of Northwood? Now how long will No Frills last.
12/9/2013 3:12:38 PM
maxumpat says:
The fact that No Frills is NOT taking VISA has me shopping elsewhere already.
12/9/2013 5:00:36 PM
debt collector says:
Loblaws doesn't take Visa at any of their stores, they have an exclusive deal with MasterCard.

Loblaws also has their own PC Points MasterCard.
12/9/2013 11:19:07 PM
SomeGuy says:
There was a story on a business website that said the parent company lost something like $45 million dollars. Given there industry they operate on razor thing margins it probably doesn't make sense to continue to take a lose while there is no expected date to turn a profit.

Will they be missed? Probably not.
12/9/2013 6:39:39 PM
mystified says:
Each to their own. I'm sure the loss of one or two customers because they don't accept plastic money isn't going to bankrupt any business.
The 3% per transaction that the business has to pay the credit companies saves them millions by having a cash or debit only payment policy.
12/9/2013 6:39:52 PM
advocate says:
the 3% is big. But I can see the store losing at least 3 in every 100 customers because of the policy.
12/9/2013 8:08:53 PM
tsb says:
Mastercard is 3%. VISA is 6% plus an annual fee. It costs a small business (revenue ~$1.5 million) about $15,000 a year to process VISA and Mastercard transactions. The Interac system that processes bank cards only charges 60 cents per transaction and a much smaller monthly fee, plus costs associated with renting a debit terminal (or terminals) and, if necessary, a dedicated internet line to run the terminal(s).

Considering the high costs, it makes sense that many businesses are either charging customers to use credit cards, or simply not accepting them. A lot of small businesses (which I realize No Frills isn't one) are not raking in massive profits, and can't afford this luxury item. NoFrills, as its name suggests, helps you save money by getting rid of the expense (for them, it would certainly be more than $100,000 a year) of having credit card terminals.
12/9/2013 9:23:39 PM
passlake says:
we had a big lots in tbay?
12/9/2013 8:19:08 PM
Gopher88 says:
Pay with cash. Most of the time people can't remember or don't know how to use the pin on their credit card. I wish more stores would have a cash only policy or cash only lines. It is much faster.
12/9/2013 9:30:55 PM
dynamiter says:
Big Lots was supposed to discount excess production and closed out goods. That model did not work in Canada - especially since their prices were worse than Dollarama ( and CTC on more pricey items) - ever notice that Dollarama is not only a dollar anymore - with goods up to $3. Let them go back to Ohio, somebody else will fill the void.
12/9/2013 11:22:33 PM
nopatience4stupidity says:
Not to sidetrack here, but not accepting credit cards (or is it just VISA?) for payment is very significant. I still remember going to the Superstore not long after it opened and leaving about $200 worth of groceries at the check-out when informed they wouldn't take my credit card. Now I believe their policies have changed but they lost me for life as a customer and to this day I still don't shop there.
12/10/2013 12:29:38 AM
SMB says:
Big Lots lost traction because Canadian consumers were expecting the Liquidation World model under a new name. Not so. Ever since LW started transitioning to Big Lots a year ago, there was a steady erosion to the liquidation outlet model; once the store was converted fully to Big Lots it became just another department store.
12/10/2013 8:26:32 AM
harry says:
No Frills is part of the Loblaw chain. Don't think they are going anywhere. No Frills being a discount concept won't accept credit cards. You get the saving and that's a problem?
12/10/2013 8:39:48 AM
Lynn says:
I love the big lots and this is bad news for me :(
12/10/2013 11:53:15 AM
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