Chapters to close Robson store in downtown Vancouver

Chapters Indigowill shut down its Robson store in downtown Vancouver on June 30, blaming high rent as the reason for closing down its flagship location in the city.

The company said a"very significant rent increase made continued profitability untenable," but that it plansto open another store in the same area sometimethis year.

"An increase of this magnitude would quite simply make this vibrant, profitable store unprofitable,"saidIndigo's CEO HeatherReisman.

"As a result, we are actively pursuing another location to serve theRobsontrade area, which we fully intend to open in 2015. In other key markets we are also looking at new real estate opportunities for Indigo that will best serve our unique needs."

The company added it is working with its human resources departmentto support its employees through this transition.

It will hold a communitytownhall meeting on Feb. 23.

Sherman Scott, a commercial real estate agentwith Colliers International, says the retail landscape in Vancouveris shifting due to new retailers moving in.

"WithNordstromgoing in right across the street [from Chapters], this area is becoming more and more expensive for retailers,so I wouldn't be surprised if the landlord has something else in mind for that space," he said.

"Some western portions of the city, we've seen a bit of a downturnand this area near the newNordstrom, near Pacific Centre ...I think it's a popular place to be for retail. We've definitely seen an increase in rental rates in the immediate vicinity."