Capital Iron name to survive after Victoria appliance dealer purchases intellectual property
Victoria’s iconic Capital Iron name will remain alive after a local appliance dealer purchased the name and intellectual property.
WestCoast Appliance Gallery owner Fred Aram says the company bought the Capital Iron name after the historic local department store announced it was closing.
"Every Victorian has a memory with that name. The name is so strong," said Aram.
"A name like that to disappear would be such a shame," he said. "I saw an opportunity."
Aram says he cut a deal to buy the Capital Iron name, its intellectual property and online presence just before Christmas.
In August of 2022, the historic Victoria business announced it would be closing after nearly 90 years in operation.
The closure impacted the store's downtown Victoria and Langford locations.
At the time, owner Mike Black attributed Capital Iron’s downfall to the rise in online shopping, staffing problems and inflation.
WestCoast Appliance Gallery says it plans to open a new Capital Iron storefront focused exclusively on destination outdoor living products.
The new Capital Iron will sell barbecues, patio furniture, hot tubs and other backyard and outdoor leisure goods.
Owners say they are in negotiations to acquire a downtown Victoria location, but Aram notes the ink has not dried on the deal.
It’s not clear how soon a store location could open its doors, but owners say they want to start operations in the spring of this year.
CTVNews.ca Top Stories
Asking rent prices up 9.3% across Canada, Ontario sees only decline: report
A new report says the average asking rent for a home in Canada in April was up 9.3 per cent compared with a year ago, while a slight month-over-month increase was also recorded for the first time since January.
What is basic income, and how would it impact me?
Parliamentarians are considering a pair of bills aiming to lift people out of poverty through a basic income program, but some fear these types of systems could result in more taxes for Canadians who are already financially struggling.
'I may have some nightmares:' Man survives being bitten by 2 sharks in Bahamas
A man who was bitten by two sharks in the Bahamas said Thursday he's 'thankful that I'm here' while sharing his story of survival.
Magnitude 4.2 earthquake reported off Vancouver Island's west coast
A 4.2-magnitude earthquake was recorded west of Vancouver Island early Friday morning.
Mexico's president accuses press and volunteer searchers for missing people of 'necrophilia'
The administration of Mexico's president has accused the press and volunteer searchers who look for the bodies of missing people of 'necrophilia,' comments that drew criticism this week.
WATCH Expecting an interest rate cut in June? Don't bet on it after new jobs data
Canada's labour market rebounded in April, adding more than 90,000 jobs, a staggering number of new positions after four consecutive months of little change.
Out-of-control wildfire burning near Fort McMurray
As of 9 a.m. on Friday, the wildfire burning 28 kilometres southwest of the northeastern Alberta city was 25 hectares in size.
Prince William says wife Kate is 'doing well'
Prince William said on Friday his wife Kate was 'doing well' in a rare public comment about the Princess of Wales as she undergoes preventative chemotherapy for cancer.
'Irate male' assaulted Newfoundland officers with block of cheese, police say
Police in Newfoundland say patrol officers were assaulted Thursday by a "very irate male" wielding a block of cheese.