Information AboutChapters |
| CATEGORIES ABOUT CHAPTERS | |
| bookstores of canada | |
| companies established in 1995 | |
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]] Chapters is a Bookstore chain throughout Canada . In 2001 , it was acquired by Indigo Books, Music & More . It was created when Coles and SmithBooks, Canada 's two largest book chains at the time, merged in 1994 . SmithBooks was acquired from Federal Industries and Coles was acquired from Southam Inc. Canadian General Capital and Pathfinder Capital bought these two chains with the intention to build large format book superstores. The new company, Chapters Inc., was officially created in April 1995 and the first two book superstores were opened in November 1995. The original superstores were located in Burlington, Ontario and Burnaby, British Columbia . {Link without Title} Chapters quickly revolutionized the book selling industry in Canada. Previously companies like Coles and Smithbooks had many small stores. Chapters built large box stores with more selection and lower prices. Chapters also tried to make its stores as pleasant as possible adding couches, ), ''Classic Bookshops'', ''Coles'', the ''Book Company'', ''World's Biggest Bookstore'', and ''Active Minds''. {Link without Title} However, the ''SmithBooks'', ''Book Company'', and ''Classic Bookshops'' names were phased out as locations gradually rebranded as ''Coles'' stores in recent years. (As of November 2005, however, SmithBooks locations still operate in some areas such as Calgary, Alberta and Hamilton, Ontario. Chapters grew very quickly. It was criticized, however, for several reasons. It drove smaller independent bookstores out of business across Canada, especially alternative stores which carried obscure or controversial titles. Chapters also built its business around moving massive numbers of a few bestsellers. As the company's market share grew it began to assert pressure on publishers and distributors to lower prices, driving some of the smaller ones out of business. Chapters did not keep the box book store market to itself, however, with the opening of Indigo . Headed by Heather Reisman , Indigo began to compete with Chapters across Canada. Chapters further lowered prices, but began to have trouble covering its debt. In 2001 Indigo launched a Hostile Takeover and bought Chapters, but kept both the Chapters and Indigo brands; subsequently a number of Chapters locations were closed if they were in close proximity to Indigo. (Much as a number of Coles and SmithBooks stores were shut down if they were too close to a Chapters site). The chain also acquired the Toronto book superstore World's Biggest Bookstore . Under both Chapters' and Indigo's ownership, that store has retained its name but is otherwise closely integrated with the Chapters and Indigo chains. EXTERNAL LINK |
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