Several quality businesses are expected to replace the Liquidation World outlet in Keswick, which is closing by the end of this month after 10 years.
“We’re looking for other retail tenants to service the community and to improve this building,” said Jim Oriotis of leasing company, Condor Properties.
The company has about 40,000 square feet there to accommodate four or five tenants, one of which is a larger area with exposure on to Woodbine and an entrance off Woodbine, and various smaller tenants that would face inward to the parking area, he added.
“We think that we’re going to be improving the plaza and providing better service and opportunities for retail to the local community.”
Space required by prospective tenants is flexible, starting at about 2,000 square feet and up to 25,000 square feet for a larger tenant, he added.
The Liquidation World lease had expired and attempts to keep them as a long-term tenant weren’t successful. Mr. Oriotis said.
In-store announcements at the Liquidation World stated the store is looking for a new location, but store manager Bob Bruce has ruled out another in Keswick.
“We’re trying to find another place in Keswick, but there isn’t anything big enough for us,” he said.
The store’s 22 employees will lose their jobs when the doors close July 27.
Liquidation World company is facing serious financial problems, resulting in seven store closings across the country including Surrey, Aldergrove and Merritt, B.C., along with Taber and Drumheller in Alta., Winnipeg and Keswick.
There are reports the company is for sale.
“We have been scrutinizing every area of our business with the objective of reducing costs and improving the profitability of our company,” president and CEO Jonathan Hill was quoted as telling a Calgary newspaper,
That led to “an extensive review” of the company’s existing stores.
Business analysts say Liquidation World is struggling against major discounters such as Wal-Mart and dollar stores.
Based in Brantford, the company is Canada’s largest liquidator with more than 100 stores and 1,600 employees.