The former owner of Fields stores, Hudson's Bay Company (HBC), was going to close all Fields stores in Canada. Fields established in 1950 is an important part of communities across the country. On May 1, 2012, FHC Holding Ltd. announced that they had closed negotiations and had come to a conclusion with HBC. Businesspersons from Vancouver have taken over 57 stores scattered across Western Canada: British Columbia, Alberta, Saskatchewan, Manitoba, and the Northwest Territories.
"Fields has been an integral part of many communities across Western Canada for many years," Jason McDougall, FHC President, said. "Our team is very excited at the prospect of serving the 57 communities in which it has acquired stores, and will work to ensure people continue to be able to get what they need in their local communities."
FHC hopes to work with their newly acquired stores to meet the needs of customers across the West. McDougall continued by saying, "Our stores will be focused on more everyday low prices, providing more value through deals on a regular basis and will continue to provide an assortment of those everyday items customers have always expected as well."
FHC has not purchased all Fields stores; however, the Carlyle outlet has been saved. The remaining Fields stores affiliated with HBC will have to close. It might not be the end for them either as "FHC will look at opportunities to work directly with landlords to potentially continue the Fields operations in those communities. FHC Fields has assumed the existing store lease or entered into a new lease agreement with landlords dependent on the current situation." as stated in a press release.
Overall FHC took over 25 stores in British Columbia, 20 in Alberta, nine in Saskatchewan (including Carlyle's), one in Manitoba, and two in Northwest Territories. They began operating Fields stores May 1.
