Towers Department Stores: History

History
Last updated November 08, 2008

1960

Towers Marts of Canada brought the chain discount store concept to Canada in November of 1960. A crash building program would open 12 discount plaza units of 100,00 square feet each in just over two year. In Quebec, the stores went under the Bonimart banner.

The first store was opened at the corner of Lawrence Ave. East and Midland Ave. Each selling department within a Towers store was operated as a licensed concession.
Read Elayne Freeman's first hand account of opening day here.

Towers radio commercial, circa 1960

Photos from the archives of Ely Segal - one of the founding retailers of Towers. Submitted by son, Don Segal.

Ben Rosenberg, president of Towers Marts and Properties

1961

Talks are underway to open gasoline outlets at Towers Department Store locations. MORE

1962

A new store opens (the third) at Bloor and Dundas Sts. On the opening day, the first 1,000 customers were sold silver dollars at 80 cents each. Seven sets of triplets, ranging in age from 3 to 24, took part in the opening ceremonies. They helped Ben Rosenberg, president of Towers Marts and Prosperities Ltd. fill a time capsule and photographs and newspapers. The capsule will remain buried until 2062. [Editor's note: I wonder what happened to it?} Donald Jaffey, president Allied Towers Merchants, said that centralizing warehousing, bookkeeping and inventory control will help streamline merchandising operations. MORE
Allied Towers Merchants Limited offers shares in this May 23 announcement in the Star. MORE

1963

Shares of discount department store operator Towers Marts and Properties Ltd. drop from a high of $9 to a level of $1 per share. MORE
Discounter Ben Rosenberg, president of Towers Marts and Properties store chain, announces March 6 that Towers is in receivership. Twelve of Towers' 13 stores are making money, he says. Attempting to cut costs, he announces that Allied Towers Merchants Ltd. has just taken over merchandising, cashiering and other in-store operations. MORE
The Star reports on May 29 that Allied Towers Merchants suffered a $268,492 net loss for 1962. Three months earlier, Allied Towers assumed the merchandising functions formerly done by Towers Marts and Properties. MORE
Bankruptcy trustee J.L. Biddell comments on the affairs of Towers Marts and Properties Ltd. "(They are) the most complicated matter I have ever been connected with." About 120 creditors consider a proposal that would keep the company in business. MORE

1964

M.W. Brook is elected president and general manager of Allied Towers Merchants. MORE
Maxwell Goldhar is appointed president and a director of Towers Marts and Properties Ltd. MORE
Sales of Allied Towers Merchants Ltd. in the first seven months compare favourably with 1963 figures. MORE

1973

Toronto Star for October 5 reports that Eaton's, Simpsons, The Bay and Towers will be open for the Thanksgiving Monday. MORE
In the October 27 edition of the Star, "a fight's shaping up over extended store hours." MORE
In Canada, the Oshawa group introduces a hypermarket (department and grocery store together) near Montreal and calls it Hypermarché.

1974

Falsely accused shoplifter at Towers Brantford store awarded over $80,000 by the Ontario Supreme Court. MORE

1975

The Kipling and Queensway Towers store is robbed by two men who climbed to the roof of the store and down a vent. Over $5,000 in men's watches and clothes are taken. MORE
Coles Book Stores Ltd., once had a connection with Towers - they operated the toy, games and stationery concessions. MORE

1976

Towers Department Stores joins with Hudson's Bay Co., the Great Atlantic and Pacific Co. of Canada, F.W. Woolworth and Gambles to create The Retail Research Foundation of Canada - a non-profit organization that conducts quality, specification and safety tests on a variety of products that retailers propose to sell to Canadian consumers. MORE

1977

Former president of Towers Department Stores pleads guilty to fraud. MORE

1982

Towers Head Office moves from Orfus Road to Airport Road in Mississauga. MORE
Kent Drugs Ltd., a wholly owned subsidiary of the Oshawa Group Ltd. operating under the name Drug City, buys the assets of Metro Drugs Manitoba Ltd. MORE

1983

Ray Wolfe, chairman and president of of Oshawa Group Ltd., announces that sales have increased 11.7 per cent to $2.12 billion. This despite the lower profit from Towers Department Stores. MORE
Don Beaumont, vice-president of Marketing for Towers concedes competition for toy sales from Toys "R" Us will likely be something to be reckoned with. "We've watched them for many years and have developed a healthy respect for them but Canada is another market, another world. Many prosperous American businesses have moved to Canada and have not enjoyed similar success." MORE

1984

Shoppers are advised not to shop at the Riverdale Plaza or Galleria Shopping Centre stores. The reason? If you want to cash a cheque there you are going to have your photo taken. MORE
Oshawa Group profit is up. Towers Department Stores helps out. MORE
Towers, and other retailers, remove fake 'Cabbage Patch' dolls from their shelves. MORE

1987

W.L. Atkinson, president and chief executive officer of Towers Department Stores Inc. is named to the Peel Region's first Junior Achievement board of governors. MORE
Max Wolfe, founder of the Oshawa Group Ltd., passes away. He was a grocer and businessman born in Lithuania in 1893 and raised near Newmarket, Ontario. At age 16, with $25 cash and a $60 loan, he bought a horse, wagon and load of apples and went into business. In 1914, he launched Ontario Produce Co. with his brother Maurice to supply army bases. The operation expanded to become known as the Oshawa Group Ltd. and at his death it included IGA, Food City, Dutch Boy, Towers Department Stores and Drug City.

1988

Towers looks for experienced retail department managers for "...our new 'Store of the Future' in Newmarket opening early 1989. [Editor's note: This store never opened.] MORE

1990

The October 4 edition of the Star reports that Woolworth Corp. of New York is interested in putting in a offer for Towers, despite Hudson's Bay Co. signed letter of intent to buy the 51-outlet operation from the Oshawa Group. MORE
The Toronto Star, on October 23, reports that "Oshawa, Hudson's Bay seal pact on store sale." While details are sketchy, a "definite agreement to sell its bargain-basement Towers and Bominart department store operations" for between $100 million and $150 million has been reached. MORE
The November 5 edition of Discount Store News reports that “Zeller's parent gobbles up Towers - Hudson Bay Company buys Towers Department Stores Inc. from Oshawa Group Ltd., Zeller's Inc.” MORE
On November 16, the Star reports that "Hudson's Bay to expand despite slump." MORE
Zellers buys Towers/Bonimart from the Oshawa Group, 51 stores for $181.5 million ($3.6 million per store, or some $60 per square foot). Zellers buys another half billion dollars in sales and gets an 18 percent market share. President Paul Walters predicts Zellers will overtake Sears in 1991 sales. He also promises that Zellers will remain headquartered in Montreal ("Our roots are here; we wouldn't think of changing that"). Towers is doing some $90 per square foot. The Zellers marketing will bring most of the stores up to the Zellers productivity. [Ed. note. site]

1991

Discount Store News reports that “48 Towers due for remake.” The March 4, 1991 article goes on to detail the conversion. John Urie, Zellers executive vice president, expects sales of the latest Zellers prototype stores "...to show double digit percentage increases." MORE
Toronto Star reports that "Zellers sees banner year, plans expansion" in its March 6 edition. Paul Walters, Zellers president and chief executive officer, says "We are not retrenching - not pulling back and waiting for the storm to blow over. We intend to dominate the Canadian mass retail market, pure and simple." The purchase of Towers increased Zellers sales by about $500 million, Walters said. Analysts indicate that the purchase grew Zellers slice of the Canadian retail market to about 18 per cent, from 15 per cent. MORE
The Toronto Star reports, on May 18, that despite the recession, "Oshawa Group gains after Towers sale." MORE

1992

William L. Atkinson, president and CEO of Towers Department Stores passes away. From 1967 until 1992, Mr. Atkinson was employed by The Oshawa Group Limited.