Quote:
Originally Posted by Darth Cosmos
TRU Canada got tons of bids. So many they had to go to auction.
This bid was denied because it included the USA stores.
The Canadian operation is like $200 million or so in value. While USA for only 200 of their stores, not all of them, was the remaining about $700 million of that bid.
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They may get lots of offers but that doesn't mean anyone will be anywhere close to what they want. Its only 83 stores in Canada and rumor is that they turned down a $271 million offer for them. That's over $3 million per store and still a no go. IIRC Target paid $1.8 million for 220 Zellers store..just the leases not the name or the inventory. So almost $9 million per store. Granted Zellers wasn't going under but I still think it will be hard to find a buyer.
And remember it's not going to be easy running them..much more expensive when you have only 83 store buying power then 1000+ buying power. I imagine they will have to mark stuff up even more.
Again I hope I am wrong and they stay as we already have very few options to shop at.
I think today is the day they are supposed to accept an offer so we will see soon.
