End of Steinberg's
The Socanav-run Steinberg's foundered within a couple of years, and Loblaw again attempted to buy the chain. They were again foiled by the Quebec government, who arranged for Steinberg's to be purchased by its two major local competitors Metro Richelieu and Provigo. To avoid accusations of monopoly, Metro and Provigo sold some Steinberg's stores to IGA.
By mid 1992, Steinberg's and its department store M disappeared, as the Steinberg's stores were absorbed and converted by its competitors, and the M stores were closed. Valdi Foods remained a company subsidiary until the stores in the western provinces were closed in 1991/92.
Although Steinberg's, Miracle Mart/M, Miracle Food Mart, Valdi and Cardinal Distributors are now defunct, Sam Steinberg is survived by two of its companies which are still in business today. The first is his real estate company Ivanhoe (which absorbed Cambridge Shopping Centres Ltd in 2001 to become Ivanhoe Cambridge). The second is Pik-Nik, his restaurant chain founded in 1966.
Succession for the Steinberg's grocery chain was the subject of a 1974 National Film Board of Canada documentary by Arthur Hammond entitled After Mr. Sam.
Read more about this topic: Steinberg's (supermarket)
Famous quotes containing the word steinberg:
“Adolescents sometimes say...”My friends listen to me, but my parents only hear me talk.” Often they are right. Familiarity breeds inattention.”
—Laurence Steinberg (20th century)