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Steinberg's renamed Steinberg in was a large family-owned Canadian grocery store chain that mainly operated in the province of Quebec and later Ontario.
In addition to its flagship supermarket chain, the company operated several subsidiaries across the country. The company went bankrupt inthree years after being sold to private interests, after 75 years in business.
Steinberg's began as a grocery store founded in in Montreal by Jewish-Hungarian immigrant, Ida Steinberg. Her five sons, led by Sam Steinberggrew the company from a tiny storefront on St. Lawrence Boulevard into the most popular and largest supermarket chain in Quebec.
Steinberg's opened more stores in Montreal and Quebec over the years. Steinberg's entered the real estate market in under the name Ivanhoe Investments and owned several shopping centres. During the expansion years, the plan was to landbank properties in Quebec for future development into shopping centres and stores. Ivanhoe turned out to be one of Steinberg's most profitable ventures and continues today under the name Ivanhoe Cambridge.
Steinberg's also had holdings in food production and distribution. In keeping with increasing French language pressures in QuebecSteinberg's dropped the possessive "'s" from its name to become "Steinberg" in This was accompanied with the introduction of a new logo as shown above this bc business succession plan buyout the previous logo had consisted of Sam Steinberg's personal signature.
Despite the change, the chain continued to be referred to as "Steinberg's" among the English-speaking public and media throughout its history and beyond. For several decades, and until the late s, Steinberg's was the largest supermarket chain in the province of Quebec. Store outlets could be spotted in nearly every district of the island of Montreal and was a major competitor for chains like Provigo and Metro.
Sam Steinberg was one of the first employers to implement mandatory bilingualism English and French for all his personnel and as a result, the company became so entrenched in Quebec culture that among French speakers" Je fais mon Steinberg " "I'm doing my Steinberg's" became a synonym for going grocery shopping, regardless of supermarket chain. InBc business succession plan buyout made its expansion west of Ottawa into Ontario by acquiring 38 Ontario stores that Grand Union had put up for sale.
This formed the basis of Steinberg's Ontario division. Until Loblaws expanded into Quebec through acquisition, there had been an unspoken agreement between Steinberg's and Loblaws that one would not enter the other's market. What Steinberg's found was that the locations of many of the Grand Union stores they acquired were in less-than-ideal locations compared to their already established competitors, and over time most were closed or relocated to new stores.
The Ontario stores lost money because of competition, poor locations, bc business succession plan buyout, and the imposition of a Quebec style of management and retailing that did not suit the Ontario market. The branding of Steinberg's Ontario's supermarkets was changed in the late s to Miracle Food Marts outside of eastern Ontario, some operating next to a Miracle Mart department store.
A new food and bc business succession plan buyout store chain, Miracle Ultra-Mart stores, was introduced in the mids. The main warehousing and administrative offices were in Rexdale Etobicoke, now part of Toronto. The Ottawa, Cornwall and Brockville stores were part of the Quebec division rather than the Ontario division. At one point a hypermarket was introduced called Steinberg Beaucoupwhich consisted of a Steinberg's grocery, bc business succession plan buyout Miracle Mart department store and Le Quick and Pik-Nik restaurants, all under the same roof.
In Ontario, they were opened as "Miracle Beaucoup" stores with Miracle Food Mart as the grocery store. The first two Beaucoup stores were opened in Laval, Quebec, and Bramalea, bc business succession plan buyout, Ontario. Steinberg's owned and operated several well-known businesses aside from their own name-brand supermarket chain:.
Trouble started brewing for the chain after the death of Sam Steinberg in Things worsened rapidly when a power struggle developed between his daughter Mitzi, her husband Mel Dobrin, bc business succession plan buyout, daughter Marilyn Steinberg Cobrin and daughter Evelyn Steinberg.
Each held equal controlling shares in the company through trusts, but these shares and those of their mother Helen, were stipulated to be voted together as one, to keep control of the company in the family. After a number of years under lackluster leadership, Irving Ludmer became CEO in April Ludmer was a former Steinberg's real estate vice president who worked with the company from until leaving NB to start his own real-estate company in He tried to reinvigorate the company and give it some direction following the chaotic years since Sam's death.
He had rejoined real-estate branch Ivanhoe inand had become close to Sam during his early years at the company. He initiated sweeping changes throughout the company, resulting in improved sales, stock prices, and a general all-around improvement in Steinberg's, making it more attractive on the stock market. The Ontario-based Loblaws chain attempted to acquire Steinberg's, but was blocked by the Quebec provincial government on nationalist grounds.
Other potential buyers included Toronto-based Oxdon Investments, Oxford Bc business succession plan buyout, Metro-Richelieu, Provigo, and a leveraged buyout from company executives Irving Ludmer and Arnold Steinberg. Under Socanav's ownership, Steinberg's ran some locations as franchises for the first time. Smaller Quebec grocery chains such as Metro-Richelieu and IGA had used a franchising model for some time. The company could save on labour costs, as those stores could employ non-unionized labour paid at lower wages than Steinberg's company-operated stores.
The buyout of Steinberg's was highly leveraged. Despite improved profitability and cash flow results from Steinberg's after the buyout, various parts of the company were auctioned off by new owner Socanav to help pay down the heavy debt load incurred.
in January and either converted to "Loblaws" or "Your Independent Grocer" banners, or closed. The sale included two operating as Xtra discount supermarkets. Attempts to sell off more assets and restructure the company including rebranding some stores and franchising others were difficult, due to Steinberg's higher labour wages, the — recession, suppliers unsure of supplying the highly leveraged company, pressure from creditors, bc business succession plan buyout, mounting losses and interest payments on debt from the leveraged buyout.
In Maycourt protection was obtained in order to liquidate the company and pay off creditors. Loblaw again attempted to buy the chain. They were again foiled by the Quebec government, who arranged for Steinberg's stores to be sold to its two major local competitors Metro Richelieu and Provigo. To avoid accusations of monopoly, Metro and Provigo sold some Steinberg's stores to The Oshawa Group IGA.
By JuneSteinberg's and its poor-performing department store chain M began phased out. The Steinberg's stores were absorbed and converted by its competitors, while the M locations closed outright as no buyer could be found for them. The last Steinberg's stores closed on September 5, His restaurant chain Pik-Nik, founded inlasted until the mids.
Succession for the Steinberg's grocery chain was the subject of a National Film Board of Canada documentary by Arthur Hammond entitled After Mr. From Wikipedia, the free encyclopedia. This article is about the Canadian grocery store chain. For the American electronics store chain, see Steinberg's electronics store. Retrieved The Gazette [Montreal QC].
ca, Zone Économie. Documentary film. Montreal: National Film Board of Canada. Retrieved 17 September Supermarket chains in Canada. Supermarkets portal. Food Basics Metro Super C Marché Adonis. Choices Market PriceSmart Foods Save-On-Foods Urban Fare. Farm Boy Foodland FreshCo Chalo FreshCo IGA except in BC Price Chopper Safeway Bc business succession plan buyout Thrifty Foods, bc business succession plan buyout. List of supermarket chains in Canada.
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