The Vince's Market location in Upper Canada Mall has closed after the company said it didn't prove to be a successful venture.
Vince's opted not to renew the lease at the location in Market & Co. as of Jan. 25.
"The decision was made to not renew our lease at Market & Co as, unfortunately, the space did not prove to be a successful venture for us," said Giancarlo Trimarchi, president.
Vince's was one of the original tenants of Market & Co. when it first opened in the lower level of the mall as an urban food market that has transitioned over the years.
The $60-million, 40,000-square-foot urban food market extravaganza opened in September 2018 to much fanfare as Canada’s first food market in a premium shopping centre environment. Many of the original offerings have since closed.
"What was originally billed as a food market unfortunately was not realized. There was a strong demand for ready-to-eat meals, but lesser of a demand for ingredients," Trimarchi said. "Our team adapted to try our best to make it work throughout, however the results just did not justify committing to a renewed term."
He added that the pandemic has made it challenging with extended closures and a tentativeness to shopping in person when things re-opened.
Despite it not being a success for the store, Trimarchi said they will miss working with the other vendors at Market & Co. and wish them all the best.
Leah Walker, general manager of Upper Canada Mall, said Market & Co. is in one of its most successful periods since opening.
"Something special about Market & Co. is how many local businesses play a part in its success. It really showcases the range of culinary talent in the region," she said.
This closure leaves Vince's with four other locations, on Mulock Drive in Newmarket, and in Sharon, Uxbridge and Tottenham.
"We look forward to redeploying the resources we put toward our Market & Co. Location back into our other four main stores and looking for our next growth opportunity," Trimarchi said.
All the ready-to-go meals and other products Vince's sold at the mall location are available in all of those stores and customers can also order groceries for delivery through Instacart.
Upper Canada Mall will now be looking for new tenants to fill the vacancy in Market & Co., Walker said.
"Our leasing team will be combing the community looking for inspiring and delicious vendors to serve Upper Canada Market’s enthusiastic shoppers. We encourage any local businesses to reach out to our property management office to explore the possibility of working together," she said.
