After years of threatening to abandon its iconic Portage Avenue building because it was too big for its retail offering, The Bay has begun to shrink its footprint in the 84-year-old location. The women's wear, lingerie and fur salon from the third floor and major appliances and electronics on the fifth floor are being split up among the first, second and fourth floors.
The renovations, which will include new carpeting, painting, branding, signage and visual presentation at a cost expected to hit seven figures, are part of a much bigger plan for the heritage building. The Bay's sister store, Zellers, announced earlier this year that it would open up a new location in the basement in November. The intention is to have a grand reopening for both retailers that month.
The search continues for new tenants for the third and fifth floors.
The Bay considered shutting its landmark downtown location in recent years because its high ceilings and giant floorplate made it uneconomical for a general-retail merchandiser. Longtime fans of the Paddlewheel Restaurant, located on the sixth floor, don't have to worry, though. The Bay intends to maintain the popular eatery.
from Western Investor, November 2010
