Dazzle Posted October 2, 2014 Share Posted October 2, 2014 http://www.cbc.ca/news/canada/sudbury/12-sudbury-jobs-lost-as-discount-retailer-xs-cargo-goes-bankrupt-1.2782293 12 Sudbury jobs lost as discount retailer XS Cargo goes bankrupt In July, retail chain had 650 employees across Canada, 195 of them full-time CBC News Posted: Sep 30, 2014 8:58 AM ET Last Updated: Sep 30, 2014 9:03 AM ET 5 shares Facebook Twitter Reddit Google Share Email Related Stories Discount retailer XS Cargo to close out its 50 stores Sears Canada, Reitmans & Indigo face battle for survival Jacob women's boutique to close stores across Canada Le Château rocked by brutal competition: Dianne Buckner Middle class retailers dying a slow death: Don Pittis XS Cargo is shutting 50 stores in eight provinces and laying off 650 people. (CBC) The bankruptcy of the XS Cargo chain will cost 12 people their jobs in Sudbury. Store manager JT Begley said the outlet — which sells excess or refurbished items — employs one full-time and 11 part-time workers. Founded in 1996, XS Cargo runs warehouse-like stores in eight provinces with stock bought from other distressed retailers or from bankruptcy sales. The Sudbury store is slated to close by mid-November. A business professor at Cambrian College said the current retail environment is hard on stores like XS Cargo. There is a lot of competition and people are strategizing about how to spend their hard-earned money. “The consumer is looking for the best price and they also like to buy new, rather than refurbished,” Brian Vendramin said. “They look for warranties. They look for customer service. I think by going to the Targets and the Walmarts, they're getting that kind of response, versus going to an XS Cargo.” He also noted “there's also some downward pressure from people who buy on E-Bay, [and] who would rather shop online than go to a place like an XS Cargo.” Liquidating stock XS Cargo's president, Duncan Reith said a plan to keep some of the company’s 50 stores open fell apart late last week. Reith said that deal wouldn’t have saved the Sudbury location. Severance for employees is limited to what can be done under the Bankruptcy Act, he added. XS Cargo is liquidating its stock of housewares, fashion, health and beauty and outdoor products at 40 per cent off. The announcement to close came after the retailer sought bankruptcy protection in July. It referred to Target’s entry into Canada in its bankruptcy filing. In July, XS Cargo had 650 employees across Canada, 195 of them full-time. Link to comment Share on other sites More sharing options...
87Crosby Posted October 2, 2014 Share Posted October 2, 2014 Long time coming Link to comment Share on other sites More sharing options...
key2thecup Posted October 2, 2014 Share Posted October 2, 2014 Noooooo!!! Link to comment Share on other sites More sharing options...
TheRussianRocket. Posted October 2, 2014 Share Posted October 2, 2014 Damn. I personally liked the store. Not too mainstream and had a lot of things at some great prices. Link to comment Share on other sites More sharing options...
Warhippy Posted October 2, 2014 Share Posted October 2, 2014 So...slashing prices AND jobs? Link to comment Share on other sites More sharing options...
AriGold Posted October 2, 2014 Share Posted October 2, 2014 Where the hell have I been ? I have never heard of this store. Link to comment Share on other sites More sharing options...
LordCanuck Posted October 2, 2014 Share Posted October 2, 2014 XS Garbage Link to comment Share on other sites More sharing options...
NEON.KNEE Posted October 2, 2014 Share Posted October 2, 2014 Now where am I going to buy my Choco Duets? Link to comment Share on other sites More sharing options...
Lancaster Posted October 2, 2014 Share Posted October 2, 2014 Some stuff they have are pretty alright for the price. Simple bowls and dishes, utensil sets, etc. are pretty well priced. I always enjoy going to one of those stores once in a while to find something to pick up (laptop cooling pad, cutlery, etc). Link to comment Share on other sites More sharing options...
Mr. Ambien Posted October 2, 2014 Share Posted October 2, 2014 XS Garbage Sounds like it. Link to comment Share on other sites More sharing options...
Mathew Barzal Posted October 2, 2014 Share Posted October 2, 2014 Aww, I bought my XS guitar stand from there! Even though it broke on the first day I managed to keep it together with XS duct tape. Ahh, always there when I needed you XS Cargo. Link to comment Share on other sites More sharing options...
Upshall18 Posted October 2, 2014 Share Posted October 2, 2014 Good. They short changed me once and gave me a nickel instead of a quarter. Manager was condescending looks like I got the last laugh haha! Link to comment Share on other sites More sharing options...
TheRussianRocket. Posted October 2, 2014 Share Posted October 2, 2014 My net broke and I went to XS for the hell of it and saw a NHL official size net with the netting for $50...was my most memorable buy, along with a $150 Bluetooth I got for $75...other than that, didn't really get much but always thought it was a cool store to go into. Link to comment Share on other sites More sharing options...
Grapefruits Posted October 2, 2014 Share Posted October 2, 2014 Crappy! While it's buyer beware for everything you buy, I've managed to buy a few good things from there over the years. Cheap solar lights for the yard that are still working 3 years after the fact. Same with a weed eater I bought almost 4 years ago. Crappiest part of it all will be all the jobs that are lost. Link to comment Share on other sites More sharing options...
King Heffy Posted October 2, 2014 Share Posted October 2, 2014 Honestly it was a pretty good store as long as you didn't buy anything more expensive like a TV or something like that. I loved it for things that are semi-disposable like dishes, cheaper furniture, and stuff like that. I even had OK luck with a theatre in a box that lasted me about 4 years before finally giving out. Link to comment Share on other sites More sharing options...
DonLever Posted October 2, 2014 Share Posted October 2, 2014 XS Cargo sells junk. Lot of stuff they sell are returned items from big stores. Or refurbished stuff. No refunds. In the article they say Target was one of the reason they closed. BS, they are nothing like Target. More likely stores like Dollarama is what killed them. Link to comment Share on other sites More sharing options...
Nuxfanabroad Posted October 2, 2014 Share Posted October 2, 2014 Good. They short changed me once and gave me a nickel instead of a quarter. Manager was condescending looks like I got the last laugh haha! Never take no wooden nickels, nor look a gift horse in the maw. Link to comment Share on other sites More sharing options...
Grapefruits Posted October 2, 2014 Share Posted October 2, 2014 XS Cargo sells junk. Lot of stuff they sell are returned items from big stores. Or refurbished stuff. No refunds. In the article they say Target was one of the reason they closed. BS, they are nothing like Target. More likely stores like Dollarama is what killed them. Nothing like target? They both sell garbage quality products. Link to comment Share on other sites More sharing options...
Whale Tail Posted October 2, 2014 Share Posted October 2, 2014 Now where am I going to buy my Choco Duets? I think Dollarama sells those Link to comment Share on other sites More sharing options...
Salmonberries Posted October 2, 2014 Share Posted October 2, 2014 Too bad. I stumbled in there one day and got a couple of household items cheap. Good place to pick up cheap odds and ends. Link to comment Share on other sites More sharing options...
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