Dylex

From Wikipedia, the free encyclopedia

Dylex Limited was one of Canada's largest retailers, involved in the operation of specialty retail stores, such as women's wear, meanswear, and family stores. In its final years, the company had five business divisions: BiWay (discount basic apparel and general merchandise), Thriftys (denim and other jeanswear and accessories), Tip Top Tailors (mid-priced men's suits and sportwear), and its women's wear group, made up of Fairweather (women's career and casual clothing) and Braemar (women's tailored clothing and accessories). The company operated 638 stores across Canada. The "Dylex" name was formed from the initials of the phrase, "Damn your lazy excuses".

In 1999, Dylex created a new chain offering off-price brand name clothing and accessories named Labels, in an attempt to have a chain competiting with the current leader of that category, Winners. This new venture was not successful, and by the end of 2000, the chain was purchased by the TJX Companies Inc, and then folded into their Winners/Homesense chain.

BiWay Stores accounted for 54% of fiscal 2000 revenues; Thriftys, 14%; Fairweather, 12%; Tip Top Tailors, 12%; Braemar, 7%; and Labels, 1%.

In 2000, the company sold its Thriftys, Braemar & National Logistics divisions to American Eagle Outfitters.

The remainder of the group was purchased in 2001. The BiWay stores chain was acquired by Hardof Wolf Group, a shell company for the United States-based McCrory Stores, a dollar store chain. The Fairweather chain was purchased by a private Canadian investment consortium. McCrory had announced its intentions to convert all of the BiWay stores into a dollar store chain to be named Dollar Zone, named after their chain of dollar stores in the United States. These plans did not go through however, and in August 2001, all BiWay stores were shuttered for good.