Premier Pat Binns says Eaton's of Canada have reaffirmed their decision to close the Charlottetown store.
"I spoke today with Eaton's President and CEO, George Kosich, and he indicated that, after review by the Board and senior managers, Eaton's has reaffirmed their earlier decision to close the Charlottetown location," stated the Premier. "The main reason is a desire to move to a much larger store format and the fact they are not willing to invest the dollars necessary to upgrade the Charlottetown store. They appreciated our interest and willingness to work with them, but given the financial restructuring of the company, they are not prepared to consider any alternatives other than closing the Charlottetown location."
"This is a blow to the community, especially to the people employed at Eaton's. Many of the employees have been with the company a long time, and this is difficult for them. I am convinced there is a market for Eaton's in this Province. I think Mr. Kosich recognizes the market possibilities, but they are not willing to make a commitment to serve it. Their business plan goes in a different direction."
The Premier says "We gave it our best shot. I think we made a sincere and specific effort to help Eaton's remain in our Province, but the final decision rested with Eaton's. I want to thank the City of Charlottetown, CADC, the business community, Eaton's employees and customers for their assistance and support. Now that this decision has been reaffirmed we can look at other options and opportunities."
It is expected the store will be offered for sale and that provides the opportunity for other business interests to explore options for what is considered a prime site in the City centre.