This HuffPost Canada page is maintained as part of an online archive.

Holt Renfrew To Close Stores In Ottawa And Quebec City

Holt Renfrew Will Close Stores In Ottawa And Quebec City
Shoppers carry bags from Holt Renfrew luxury department store while walking on Bloor Street West in Toronto, Ontario, Canada, on Saturday, June 15, 2013. Statistics Canada (STCA) is scheduled to release retail sales figures on June 21. Photographer: Galit Rodan/Bloomberg via Getty Images
Getty Images
Shoppers carry bags from Holt Renfrew luxury department store while walking on Bloor Street West in Toronto, Ontario, Canada, on Saturday, June 15, 2013. Statistics Canada (STCA) is scheduled to release retail sales figures on June 21. Photographer: Galit Rodan/Bloomberg via Getty Images

High-end retailer Holt Renfrew is closing its stores in Ottawa and Quebec City, while it focuses on growing the size and selection at its flagship stores.

The closure of those two stores at the end of January will put 157 employees out of work, but the company said its employee count of 2,600 will ultimately increase through 2017 as it expands other stores.

Holt Renfrew is spending $300 million on a growth plan, ahead of the arrival of luxury market rivals Saks Fifth Avenue and Nordstrom in the Canadian market.

Holt will focus on expanding square footage at stores in Vancouver, Calgary, Edmonton, Toronto and Montreal.

It added that the stores in Ottawa and Quebec City, though smaller, “performed well and these communities were cherished.

“It was ultimately concluded that Holt Renfrew's enhanced specialty luxury business model requires a significantly larger store footprint in any target market and a deep assortment across a wide array of its core brand partners."

Related on HuffPost:

The Most Exciting U.S. Brands Coming To Canada

Close
This HuffPost Canada page is maintained as part of an online archive. If you have questions or concerns, please check our FAQ or contact support@huffpost.com.