Clearwater’s Fields outlet is now officially on the list of stores being taken over by FHC Enterprises Ltd.
That’s the word from Rebecca Johnston, an account executive with PR Associates in Vancouver.
“FHC has concluded an agreement with HBC to take over 57 Fields stores in B.C., Alberta, Saskatchewan and the Northwest Territories,” she said.
The official handover will take place May 1.
Under the deal, FHC Enterprises will acquire the stores’ inventories, fixtures and the Fields brand, which means the stores will continue to operate under the Fields name.
“The goal is to bring in merchandise that makes sense to each community,” Johnston said. “They will be bringing in great products and a great selection. They want to ensure people are able to get what they need where they live.”
Because of the change of ownership, Fields employees will need to need to apply for work with FHC Enterprises before the changeover takes place.
However, the plan is to offer jobs to as many HBC-Fields employees as possible, said Johnston.
FHC Enterprises will either take over the store leases presently held by HBC or negotiate new ones.
The major shareholders in FHC Enterprises are Jason MacDougall and John Radostits. MacDougall is the founder of Bargain Wholesale in Delta while Radostits is an investment banker from Edmonton.
Before the end of the summer MacDougall plans to visit all the 57 stores being acquired.
Hudson’s Bay Company (HBC) announced last February that it planned to close all 167 Fields stores in Canada.
In mid-March the Times learned negotiations were underway for FHC to take over a number of the stores. However, until recently some were confirmed as part of the deal and others, including the Clearwater outlet, were on a list that was still being negotiated.