It’s the convenience store many neighbourhoods across Ontario and Canada rely on, but the one closest to you could soon be shutting down.
Several reports indicate that 7-Eleven plans to begin closing stores this year as the company grapples with underperforming markets and changing consumer spending habits.
Japan-based parent company Seven & i Holdings has said that up to 645 stores in North America could either close or be rebranded.
In Canada, there are 552 7-Eleven locations, including 58 in Ontario — all of them in the southern part of the province.
The rebranding could see some stores converted into gas station outlets with smaller retail areas, operating under major fuel brands. They have already done so, converting some gas stations into Petro-Canada and Esso.
Despite the planned closures, North American operators say 7-Eleven also intends to open 205 new locations in select markets, with a focus on larger stores offering fresh food options.
There has been no official indication of when or where the changes will take place. However, some operators in the Greater Toronto Area have reportedly been telling customers their locations are earmarked for closure.
Recent indicators show that traditionally strong-selling items, such as cigarettes, are in decline, affecting overall revenue.
The company also says it is looking to move away from pre-packaged food in some locations, shifting instead toward freshly made products.
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