15 Metro Stores (ON) to become Food Basics. More savings!!!!!

[Shwa Girl]

Great news for saving on groceries in Ontario. Hope you get a Food Basics near you.

MONTREAL -- Metro Inc. says it plans to reorganize its Ontario grocery retail network over the coming months, affecting 15 stores.
The Montreal-based company says it will convert some of its Metro stores to the Food Basics discount banner.
It will also close some stores and offer buyouts to some of its unionized employees, as required by their collective agreements.
Metro hasn't said exactly how many people will be let go or which locations will be affected but says it will recognize a $40-million restructuring charge.

Read more: http://montreal.ctvnews.ca/metro-gro...#ixzz2bwcJhNaR

[torontogal12]

I really hope my Metro doesn't disappear. Love that place. The swarm of people there at all hours leads me to believe it's safe lol

[FallenPixels]

Bad news for me, I have a couple of FB stores near me but none of them are especially clean or well stocked, I hope our Metro stays open
I am surprised they are doing a deal with Target when Target has a deal for purchasing with Sobeys

[Cuckoobird]

I really hope my Metro doesn't disappear. Love that place. The swarm of people there at all hours leads me to believe it's safe lol

Me too. Love my Metro, hope they won't convert to FB.

[FallenPixels]

I doubt mine would, we have quite a few of both in a fairly small area so there would likely not be a benefit to changing it

[Shwa Girl]

Looking forward to having more Food Basics close by home. They closed the Oshawa one on King Street and-- was very popular.

Metro's website lists 69 Ontario stores. Wonder which ones will convert to Food Basics?
http://www.metro.ca/en/on/locate-store.html

[SavinMoney]

Thanks for letting us know! I am interested to find out if the metro here will change??

[Shwa Girl]

Thanks for letting us know! I am interested to find out if the metro here will change??

You are welcome.

I am guessing that if a Metro store located near in an area where there are two or more of these stores, they have been hit hard in sales:

Target and Walmart close by
No Frills and Giant Tiger near by.

These Metro stores may be ones to change to Food Basics faster.

[GoddessDigi]

Doubt our Metro would. The FB and Metro here are within walking distance of one another. And our Metro is usually pretty busy.

[FallenPixels]

The list of Metro stores that will close under the grocery chain’s plan to reorganize its Ontario network will not be finalized for six to nine months, a company spokeswoman said Wednesday.

I find it hard to believe that they know the number of stores but not where, but this is their answer

[SassyAshley]

Looks like we might be getting a second Food Bascis within my shopping area, locally we have a Food Basics but about 45 minutes away they have no Food Basics but 3 Metros. I am pretty sure my fav store will not be changing they just renovated it and it is always busy but I could one of them easily changing as the Price Chopper on that side of town closed down and was not re opened as a Frescho so now I think most people on that side of town shop at No Frills so a Food Basics might be good. Just hope they do some renos on the store if it does change. I really dislike that Metro it shows it age and in some places part of the flooring is actually missing from a flood they had and they never repaired the floor.

[SassyAshley]

I agree they know exactly what they are doing and just do not want to announce it yet for whatever reason.

I find it hard to believe that they know the number of stores but not where, but this is their answer

[GoddessDigi]

Well, actually, they could have crunched the numbers, decided how many, but not which ones. Or they do have a list, but it's not narrowed down, or something..

[FallenPixels]

Depends, they could easily close multiple under-performing stores and would know which stores these are from sales records.

[Ciel]

From the third quarter report, funny notation about the cost of the reorganization-missing a thousand or million after that 40?
Just realized it's mentioned twice and once with the proper valuation.
Page 12-

EVENT AFTER THE REPORTING PERIOD
We will proceed(2) over the course of the following months with a reorganization of our Ontario store network including
the conversion of certain Metro stores into Food Basics discount banner stores, the buyout of some collective agreement
provisions, the offer of early exit to some employees and the closure of some stores. Reorganization costs from this
decision are estimated(2) to be $40 million which will be incurred(2) in the next quarter. This reorganization plan will allow
(2) us to better meet customers' needs and reduce operating costs.

The one I saw first on Page 29:

11. EVENT AFTER THE REPORTING PERIOD
The Corporation will proceed over the course of the following months with a reorganization of its Ontario store network
including the conversion of certain Metro stores into Food Basics discount banner stores, the buyout of some collective
agreement provisions, the offer of early exit to some employees and the closure of some stores. Reorganization costs
from this decision are estimated to be $40 which will be incurred in the next quarter.