LCBO Statement Regarding Store Network Plans

TORONTO, March 7, 2016 /CNW/ - LCBO confirms earlier statements today by Minister Charles Sousa that it has no plans to reduce the size of its 654-store network through the sale of LCBO-owned locations. In fact, LCBO is investing in expanding both the size and scope of its retail network to further improve customer service.

The Request for Proposal posted publicly by the LCBO is for "as needed" real estate brokerage services that will help it manage future transactions such as leases, rentals and property sales as part of its long-term business plans.

Prior to this RFP being issued, LCBO acquired such services through individual requests for quotations. This RFP will help ensure that LCBO has a single brokerage service it can access as needed going forward and represents a continuation of its standard business practices. The LCBO currently owns 228 of its retail properties, and the remaining 426 of its store locations are leased. Since 2006, the LCBO has sold 31 of its retail locations, the vast majority of which have been replaced with newer and larger stores.

The LCBO will be issuing an amendment to the RFP to ensure the extent of service is clearer.

SOURCE LCBO

For further information: For media inquiries contact: Christine Bujold, LCBO Media Relations Coordinator, Tel. 416 864-6772, Cell: 647 587-3729, E-mail: christine.bujold@lcbo.com; Keeley Rogers, Media Relations Coordinator, LCBO, Tel: 416-864-6875, Cell: 647-339-5428, E-mail: Keeley.rogers@lcbo.com

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