Earlier this year in April, Indigo announced that they would be shutting down their flagship Chapters location at Richmond and John. The massive retail space took up three floors in the RioCan Hall complex, which is shared with Scotiabank Theatre and Marshalls. Since the shuttering of the store, rumours of which retailer would take over the prime downtown real estate have been swirling. Many people guessed a high-end furniture store would move into the space or even a Home Depot, but signs are up at the old Chapters location and it’s official – Michaels will be moving into the gigantic retail space.
The North American chain of craft supplies does not currently have any locations downtown, but they do have five locations across the GTA in North York, Scarborough, Mississauga and the Stockyards. With no confirmed opening date, Michaels promises to be a one-stop shop for all of Toronto’s crafting needs however, with dozens of art supply, bead and fabric stores minutes away, Michaels could pose as a major problem to many of Toronto’s independent retailers that strive off of downtown crafters.