Fields Stores to Flourish Again in Western Canada
- Historic Canadian Retailer Gets New Life in 57 Communities -
VANCOUVER, May 1, 2012 /CNW/ - For some communities, the local Fields Store is their lifeline, and until recently, many towns were facing difficult days ahead with the news that their Fields store would be closing. But those concerns have been lifted thanks to a group of businesspersons based in Vancouver who share the passion and commitment to community that established Fields beginning back in 1950. Today, FHC Holdings Ltd. is pleased to announced that it has closed on its transaction with former owner Hudson's Bay Company (HBC) and purchased 57 Fields stores in British Columbia, Alberta, Saskatchewan, Manitoba and the Northwest Territories.
"Fields has been an integral part of many communities across Western Canada for many years," says FHC President, Jason McDougall. "Our team is very excited at the prospect of serving the 57 communities in which it has acquired stores, and will work to ensure people continue to be able to get what they need in their local communities."
Fields, previously owned by HBC, has been part of the landscape of Western Canada for over 60 years, with the first store opened in Vancouver in 1950. A fixture in small towns for decades, Fields will continue to proudly serve the small communities that have been acquired by FHC, and will work with each of them to further ensure they are meeting and exceeding the needs of its customers.
"Our focus always goes back to how we can best serve the customer in these communities," continues McDougall. "The goal is to bring in the merchandise that makes the most sense for each community we serve, and we're looking forward to bringing in a selection of great products and merchandise to communities across the West. Our stores will be focused on more everyday low prices, providing more value through deals on a regular basis and will continue to provide an assortment of those everyday items customers have always expected as well."
FHC considered a number of factors when determining which stores to purchase from HBC. Once the remaining Fields stores operating under HBC close, FHC will look at opportunities to work directly with landlords to potentially continue the Fields operations in those communities. FHC Fields has assumed the existing store lease or entered into a new lease agreement with the landlords dependent on the current situation. The company has also acquired the inventory, fixtures and the Fields brand, allowing it to continue operations under the Fields name. FHC wishes to thank Royal Bank of Canada for acting as its lead financier and Affinity Law Group, who with all of the other stakeholders worked tirelessly with the FHC Management team to finalize this transaction.
The locations that FHC has acquired are:
|FHC FIELDS STORE LOCATIONS|
100 Mile House
Fort St. James
Lac La Biche
About FHC Fields
Fields is operated through FHC Enterprises Ltd.,a wholly owned subsidiary of FHC Holdings Ltd. FHC Enterprises will commence operation of the 57 Fields discount stores effective May 1st, 2012. For more information on the new Fields, please go to http://www.fields.ca
For further information:
FHC Fields inquiries: