Chopped: Chinese retail giants flourish while big banks close branches

Posted on August 20, 2018 | Gabby Peyton | 0 Comments

Chinese retail giant sets up shop in Halifax
Miniso, the low-cost lifestyle store headquartered in Guangzhou China, is continuing its Canadian expansion with a new store in Halifax. The 4,200 sq. ft. store on Spring Garden Road will be in a good position to compete with other deal kings like Dollarama and Walmart as 70% of their products are under $5. Miniso opened its first Canadian store in Vancouver in 2017 with a goal of opening 100 across the country by 2019.

Cybersecurity centre announced for Fredericton
Fredericton’s innovation hub Knowledge Park will soon be home to Cyber Park, a $37-million building spanning 135,000 sq.ft. of the north side of Knowledge Park Drive. In an announcement last Tuesday, the Cybersecurity Centre of Innovation will receive $4 million in funding from Cyber NB, the cybersecurity arm of Opportunities NB, along with assistance from the federal government to build with the highest level of security needed for this type of infrastructure. Cyber Park breaks ground in October with a completion date of late 2020.

P.E.I. beer bar spills over to Halifax
Charlottetown’s Hopyard Beer Bar has crossed the Confederation bridge to open a location in Halifax. With their mammoth selection of craft beers from Atlantic Canada as well as Quebec and Ontario, Hopyard puts a different spin on their establishment with the addition of a large selection of vintage vinyl for purchase. Their Halifax location opened on August 9 at 2103 Gottingen Street.

Wing’n It to open in CBS
Wing’n It has announced it will open its 14th location in the new Baine Johnston Gateway Development in Conception Bay South. The Newfoundland-based eatery offering myriad wing flavours has ten spots across the island, two in Alberta and one in Nova Scotia. Wing’n ’It is the first confirmed tenant of the new strip mall adjacent the CBS Arena.

BMO shutters branch in New Brunswick
The Bank of Montreal branch in Dalhousie has announced its upcoming closure. As of March 22, 2019, local clients will have to bank elsewhere or choose to drive to the next nearest BMO branch located in Bathurst, 90km away. There has been no announcement made about job losses.

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