Loblaw Buying Canada's Biggest Asian Grocery Chain, T And T Grocery, Buying, Chain, Asian, And

吳孟達

http://www.citynews.ca/news/news_36125.aspx

The largest Asian grocery chain in Canada is no more, as Loblaw completed its purchase of T&T Supermarkets.

The deal is worth $225 million, with Loblaw Companies Ltd handing over $191 million in cash for the stores.

The rest will be funded through preferred shares, tied to the future performance of the business.

T&T has a total of 17 locations across the country and five of them are in Toronto. There are others in British Columbia, Alberta, and elsewhere in Ontario.

The deal is expected to close by the end of the year, subject to consents and regulatory approvals.

Last year, T&T boasted sales of about $514 million.

tiffiant

is T&T in financial crisis?

zoids

I didn't know SuperStore staff are all unionized.

If T&T staff gets to organize as well, is there any guarantee that salaries would rise quickly/immediately to similar levels with SuperStore? Grante ...
Lik 發表於 2009-7-26 11:24

No, I doubt T&T staffs will get any raise... in the announcement, it is clearly stated T&T will operate as totally individual entity on themselves so unless some T&T staffs got hooked up with one of the union, it ain't just going to happen because different entity under Loblaws has different union..... e.g. the union for Extra Foods is different from the union for Superstore

Another reason is these days Superstore don't hire full time people anymore possibly due to the bad terms they have with previous negotiation, staffs who has worked in Superstore for over long period actually got all the good pay and good shift.  It is the new comer that got screw over but nothing can be helped due to union.  Just some information here..... a maxed out normal staffs actually earn more than department supervisor in Superstore except they don't have bonus, and they actually get paid hourly not salary and can earn double on stat days!!!

rockypath

The purchase price of T&T is on the low side in my opinion. Just continue to wait and see whether there will be more information about this deal.

Lik

At least the staff of T&T will be happy for is that they will be unionized and get much higher pay than now.
pkphilip 發表於 2009-7-24 23:00

I didn't know SuperStore staff are all unionized.

If T&T staff gets to organize as well, is there any guarantee that salaries would rise quickly/immediately to similar levels with SuperStore? Granted,  I seem to recall that SuperStore staff aren't paid that much either (at least in comparison to several other chains), but if T&T staff receive their pay increases, how can at least one of the following things not happen?

1) T&T will have to increase prices to make up for the higher salaries
2) T&T's business will become unprofitable for Loblaws

-Lik

tiffiant

its hard to say
some say you have a good future
some say you will get laid off

rs1985

seriously
why so serious and call people moron ?
ya
i think the management for T and T won't change and the boss of T and T now might get a good salary down the road (no risk on his part, if the expansion fail, he still get to keep his money, if it works, boost to his reputation, why not?)  Risking other's money is way better than risking your own, and when you get pay for it, is a bonus
if my thoery is true
hahaa

tiffiant

what would be T&T like
another western superstore?

zoids

17# peter236


Profitable enough to expand all over Canada in a few years? ...guess not.
"You moron" why get personal?
yoursecret 發表於 2009-7-25 03:12

It's just Peter236 having his brainfart again.  No one cares anymore.

yoursecret

17# peter236


Profitable enough to expand all over Canada in a few years? ...guess not.
"You moron" why get personal?