
Home Hardware shuts down after 30 years
One of Prince Albert’s longest running businesses is closing its doors for good.
A sign posted on the main entrance door to the Home Hardware Building indicates this was not a store management decision. Doug Banzet, Chief Operating Officer of West Cap Management explained to paNOW the store has been losing money the past five years, and shareholders just no longer wanted to continue funding losses.
“We had an offer to sell part of the real estate and to sell off a fair chunk of the inventory,” he said.
Banzet cited a number of challenges facing the store including the “tough market” in Prince Albert, as well as the abundance of competition from other stores such as Econo Lumber, Rona, and Lake Country Co-Op.