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| The Creaghan’s building – a landmark downtown building for almost a century – will undergo renovations as a result of the sale |
J.D. Creaghan Company’s store in Moncton will be sold before the end of the week, say company officials.
“The transaction is being completed and a press conference should be held very shortly,” Cathy MacKeigan, public relations and advertising manager, said Tuesday.
“The purchase price and new owners will not be announced until the news conference,” she said.
“The Creaghan’s building – a landmark downtown building for almost a century – will undergo renovations as a result of the sale,” said MacKeigan.
“We’re going to fix up some things that have been sitting around that should have been taken care of before this,” said MacKeigan.
“A lot of little things will be changed that will make for some major improvements.”
MacKeigan said architectural drawings will be released next week detailing the planned renovations. She also said the store has met with city hall officials “to finalize a few details” as part of the renovations announcement.
MacKeigan would not confirm rumours circulating around the city that the store has been purchased by Goguen Bros., a major city-based contracting and construction company.
Goguen Bros. officials could not be reached for comment Tuesday but Romeo Goguen denied Monday that his company had purchased Creaghan’s.
Goguen said his company had no interest at all in the store.
MacKeigan said it would not be fair to announce the name of the new owners before a news conference detailing the renovations is called.
Despite the renovations, the store’s operations “will remain similar to those in the past,” added MacKeigan.
Creaghan’s – a clothing store which caters largely to women and children – has been hurt in recent years by a sluggish downtown market and the exodus of consumers to malls at the city’s outskirts.
The building’s exterior was spruced up a few years ago with a new store front of white siding and large stylized store name, and Oak Street Park – complete with fountain, benches and archway – was completed last year bordering the building.
It was not immediately known if the talks with city hall officials are connected to further downtown development at the Creaghan’s building site in conjunction with store renovations.