Winnipeg Free Press

Winnipeg Free Press (Newspaper) - January 17, 1995, Winnipeg, Manitoba Winnipeg free press business Philip 6977017 b5 january Dyles problems Arent a sign of an impending Industry officials say retailers dont fear word by Kelly Taylor business reporter financial trouble at retail conglomerate which will hit Manitoba 200 byway employees next not the beginning of a retail Industry players All the rest of our tenants remained quite said Deborah manager of vital we just ran the our sales were up six per cent for the whole owns tip top Thrifty and Fairweather in addition to last week it was seeking court Protection from creditors and closing 200 stores and eliminating jobs As part of a massive on the company confirmed it would Lay off 200 employees of its 11 byway stores in Winnipeg next month and had already closed three Rural Manitoba the court Protection would not affect profitable stores such As Harry club or Braemar Dalex alive and Well it is not yet known what effect Dyles troubles will have on Manitoba operations of tip top or analysts say the Dalex closings reflect both internal financing difficulties and changes in the Way canadians the retail Market is alive and but some players in it Are facing said Peter Vic president of the retail Council of Woolford said that Consumers Are shopping with Price and value in but sales Are continuing to were seeing firms with weaknesses or that happen to miss a change or development in the marketplace continuing to come under extreme he Michael manager of Kildonan place shopping said the Dalex situation is More a remnant of the last recession than a sign of a new a lot of firms were downsizing during the recession and i think this is a continuation of he just because Dalex is having some trouble it Doest mean everybody Woolford said retailers Are under pressure from warehouse style chains and from catalogue shopping companies that were almost unheard of 10 years says that while some problems were the company a soft apparel Market compounded spokesman Richard Wertheim said leading Edge fashion sales have trailed off As particularly steered away from he said which he described As suffered As a problems began after a previous management team expanded the which boosted leasing and transportation costs and drove away property manager Bra Malea which runs vital Centre and uni City shopping int Overly worried about what May happen if its malls lose Dalex an official we do respect Dalex but generally it would not be that major an said Don corporate quite Happy there Are so Many companies quite Happy to come into Fenton said trendy american stores like the and nature co would snap up open retail space if a Canadian firm there is such a Strong interest from american and even from the Canadian that i dont think youd find holes in Marc gaunt Winnipeg free press Stephen Hymers of tip top tailors in uni City mall tends to sales Racks forecast says rate to continue climb Byro Carrick Canadian press Ottawa interest rates in Canada Are starting to Bear a dismaying resemblance to the Energizer Bunny they keep going and the latest forecast is for the prime lending rate charged by the major Banks to Rise half a percent age Point to per cent As soon As sound familiar the prime did the same thing last Friday when it jumped to a three year High of per dragging loan and Mort Gage rates along for the economist Andrew Pyle of mrs International said the Bank of can Ada was expected to raise the Bank rate by half a Point at the weekly set Ting enough to trigger the Banks to raise their prime the reserved for top Bank customers but also a Trendsetter for consumer was at per cent just two months steady Rise rates have risen steadily since then to help the Canadian Dollar stand up to pressure from foreign investors worried about the deficit and the currency had a relatively quiet Day rising of a cent to cents the currency is still close to a nine year rising interest rates have a Posi Tive effect on savers by cranking up returns on term deposits and guaranteed investment a popular vehicle for but investment dealer Nesbitt Burns said in a report yesterday that rate increases will also take momentum out of the economic recovery in 1995 by hurting consumer David the firms senior said economic out put in the first half of 1995 will fall to an annual Pace of per cent from an estimated per cent last to a Large it will be the consumer that brings the rate of growth Down toward the Levels were looking Rosenberg if this was an expansion that was totally reliant on the then there might be cause for exports and Job growth will continue to be pillars of strength for the Rosen Berg the Economy int Likely to receive any assistance from lower in Terest rates until the latter half of economists generally Pyle said he expects the prime rate to Rise another full Point in the next month or including a half Point jump at the end of were a different kind of healthy housing Market predicted for first Quarter the local and National hous ing markets should have a relatively healthy first Quarter despite rising interest rates and other unsettling economic a National real estate firm Royal Lepage says in its Winter 1995 Survey of Canadian House prices that prices across the country Are expected to Rise modestly Dur ing the first three months of a return to economic Prosperity is just around the Glen Royal Depages Winnipeg said in a although the housing Market is usually one of the last sectors of the Market to All indicators suggest a continuation of healthy housing activity in he Royal Lepage noted that Over the past houses in some Winnipeg like North Kildonan and have seen Price in creases of Between five and six per the firm says that with the exception of Edmonton and Otta real estate markets Are poised for a relatively healthy first Eye laser surgery chief Eye surgeon Daya Gupta Gupta Eye Centre exciter laser surgery or 9434179 the Federal business development Bank was created to help Canadas 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