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Re: Eaton's No More

Kristen Immoor wrote:
> I've just received word via Mary Lause, who read it in a current issue of
> MacLean's magazine, that Eaton's department store is closing its doors for
> good. A moment of silence for Eaton's, please.

Mmmm- keep talking. I think you can hold the silence. 

Eaton's is reorganizing, not closing down. The parent corporation was
indeed showing losses, but as a retail concern, Eaton's has a lot of
profit-making power. It wants to close a number of unprofitable stores,
many of which are in small communities (where it is often a central
presence), and to do so it took protection under insolvency legislation.
No different than the large American retailers who took protection uner
the bankruptcy law to reorganize, and emerged all the stronger.

As for the old Eaton's building, home of the Eaton's auditorium of such
importance to this list, it remains in place, a beautiful piece of
architecture, at the corner of College and Yonge streets in Toronto,
untouched by the reorganization of its former owner (at least I
*believe* Eaton's has nothing more to do with the building, now named
"College Park".)


ronald d. davis | barrister and solicitor
54 brunswick avenue | toronto | ontario | canada m5s 2l7
Vox: (416) 929-2324 | Fax: (416) 929-1087
e-mail: rdavis@chass.utoronto.ca