1/17/2015
TORONTO – Sony has announced its decision to shut down all of its 14 stores in Canada in the next two months without giving any reasons for the move.
Sony said in a statement Thursday that Canadians could continue to buy its products through the internet or other means like telephone or third-party retailers.
The company has five stores in Toronto, three in Vancouver, three in Alberta province, and one each in Ottawa, Montreal and Quebec, and employs a total of 90 people.
Though Sony did not give any reasons for the closure, the electronics company is known to be going through a difficult economic situation.
Analysts estimate that Sony is set to register losses amounting to $1.9 billion in the current fiscal year, which ends on March 31.
On the same day that Sony made its announcement, U.S. retail chain Target said that it would close its 133 establishments in Canada after accumulating losses of over $1.5 billion in its first two years of operations in the country.
source
TORONTO – Sony has announced its decision to shut down all of its 14 stores in Canada in the next two months without giving any reasons for the move.
Sony said in a statement Thursday that Canadians could continue to buy its products through the internet or other means like telephone or third-party retailers.
The company has five stores in Toronto, three in Vancouver, three in Alberta province, and one each in Ottawa, Montreal and Quebec, and employs a total of 90 people.
Though Sony did not give any reasons for the closure, the electronics company is known to be going through a difficult economic situation.
Analysts estimate that Sony is set to register losses amounting to $1.9 billion in the current fiscal year, which ends on March 31.
On the same day that Sony made its announcement, U.S. retail chain Target said that it would close its 133 establishments in Canada after accumulating losses of over $1.5 billion in its first two years of operations in the country.
source
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