Capital Iron to close after nearly 90 years in Victoria
The owners of the iconic Capital Iron business in Greater Victoria announced Friday that its stores will be closing Dec. 17, after being in operation since 1934.
The closure affects the long-time downtown Victoria location on Store Street and the location in Langford on Langford Parkway.
On Monday morning, Capital Iron owner Mike Black told Victoria radio station CFAX 1070 that the decision to close the business was difficult.
He cited changes in the retail industry, the increased popularity of online shopping, supply chain issues, staff shortages and inflation as the reasons for the closure.
The business – which carried everything from fishing and marine gear to patio furniture, barbecues and kitchen supplies – had been family-run since its opening nearly 90 years ago.
The Capital Iron building in Victoria is shown. (CTV News)
The building and surrounding property is owned by developer Reliance Properties.
In a release Friday, the developer said it offered Capital Iron a long-term lease without rent increases and was looking forward to working with the business.
There are no immediate plans for the Capital Iron buildings, however, there are potential plans for the area.
Reliance Properties has proposed plans to develop the surrounding 6.7 acres into a major development that could provide space for a new Art Gallery of Greater Victoria.
CTVNews.ca Top Stories
Quebec nurse had to clean up after husband's death in Montreal hospital
On a night she should have been mourning, a nurse from Quebec's Laurentians region says she was forced to clean up her husband after he died at a hospital in Montreal.
Northern Ont. lawyer who abandoned clients in child protection cases disbarred
A North Bay, Ont., lawyer who abandoned 15 clients – many of them child protection cases – has lost his licence to practise law.
Bank of Canada officials split on when to start cutting interest rates
Members of the Bank of Canada's governing council were split on how long the central bank should wait before it starts cutting interest rates when they met earlier this month.
Maple Leafs fall to Bruins in Game 3, trail series 2-1
Brad Marchand scored twice, including the winner in the third period, and added an assist as the Boston Bruins downed the Toronto Maple Leafs 4-2 to take a 2-1 lead in their first-round playoff series Wednesday
Cuban government apologizes to Montreal-area family after delivering wrong body
Cuba's foreign affairs minister has apologized to a Montreal-area family after they were sent the wrong body following the death of a loved one.
'It was instant karma': Viral video captures failed theft attempt in Nanaimo, B.C.
Mounties in Nanaimo, B.C., say two late-night revellers are lucky their allegedly drunken antics weren't reported to police after security cameras captured the men trying to steal a heavy sign from a downtown business.
What is changing about Canada's capital gains tax and how does it impact me?
The federal government's proposed change to capital gains taxation is expected to increase taxes on investments and mainly affect wealthy Canadians and businesses. Here's what you need to know about the move.
New Indigenous loan guarantee program a 'really big deal,' Freeland says at Toronto conference
Canada's Deputy Prime Minister Chrystia Freeland was among the 1,700 delegates attending the two-day First Nations Major Projects Coalition (FNMPC) conference that concluded Tuesday in Toronto.
'Life was not fair to him': Daughter of N.B. man exonerated of murder remembers him as a kind soul
The daughter of a New Brunswick man recently exonerated from murder, is remembering her father as somebody who, despite a wrongful conviction, never became bitter or angry.