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Zellers 1931 Toronto
Zellers was a Canadian discount department retail chain and is currently a brand name owned by the Hudson's Bay Company (HBC). Founded in 1931 in London, Ontario, in later decades it was based in Brampton, Ontario. Zellers was acquired by HBC in 1978 before closing in 2013. A series of acquisitions and expansions allowed Zellers to reach its peak in the 1990s, with 350 stores across the country in 1999. However, fierce competition by Walmart Canada and an inability to adjust to the increasingly volatile retailing industry resulted in Zellers losing significant ground in the 2000s. At the same time, HBC's new owner NRDC Equity Partners was focusing on bolstering and re-positioning Zellers' sister chain, The Bay, with an upscale and fashion-oriented direction, and saw Zellers as a detriment to the turnaround. In January 2011, HBC announced that it would sell the lease agreements for up to 220 Zellers stores to the US chain Target for $1.825 billion. In turn, Target announced i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a same management being substantially controlled by same entity/group are called sister companies. The subsidiary can be a company (usually with limited liability) and may be a government- or state-owned enterprise. They are a common feature of modern business life, and most multinational corporations organize their operations in this way. Examples of holding companies are Berkshire Hathaway, Jefferies Financial Group, The Walt Disney Company, Warner Bros. Discovery, or Citigroup; as well as more focused companies such as IBM, Xerox, and Microsoft. These, and others, organize their businesses into national and functional subsidiaries, often with multiple levels of subsidiaries. Details Subsidiaries are separate, distinct legal ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
