androiduk
Senior Member
Tim Horton's opening in Times Square
http://www.financialpost.com/news-sectors/story.html?id=1745219
http://www.financialpost.com/news-sectors/story.html?id=1745219
Tim Hortons Returns Officially To Canuck Roots: Will Ditch U.S. Parent
Monday June 29, 2009
The Canadian Press
Coffee giant Tim Hortons Inc. (TSX:THI) is returning its home base to Canada with a plan to reorganize and convert to a Canadian-based corporation.
The popular coffee house chain is currently owned by a U.S.-based parent company after its spinoff from U.S.-based burger giant Wendy's in 2007. Tims says the reorganization will save money due to Canada's lower tax rates and make international expansion easier.
The move will create a Canadian subsidiary with which Tims will merge, creating a company incorporated under the Canada Business Corporations Act.
Tim Hortons shareholders will hold the same amount of stock as before, and the company will continue to operate under the Tim Hortons name with stock listings on the TSX and the New York Stock Exchange. The chain has struggled to boost sales in the United States despite thriving in Canada.
I'd rather Harvey's start opening some new stores here to replace all the ones that disappeared in the past few years.
I actually sent them an email 2 weeks ago asking them if they're going out of business because they're closing all their downtown locations. No reply as yet.
It doesn't sound like this franchisee is to be trusted. Let's hope Tim Hortons forced them to clean up their act.