Gateway Newstands [sic] is a chain of convenience stores and kiosks in large office buildings, shopping centres, public places, and transit stations in the United States and Canada. Established in 1983,[2] Vaughan, Ontario-based Tobmar Investments International Inc. (known simply as Tobmar) is the company that runs Gateway Newstands. The stores operate as independent franchisees and sell a wide variety of convenience items from tobacco and lottery tickets; to candy, chewing gum, and non-alcoholic beverages; and newspapers and magazines. There are currently over 500 Gateway franchises in the network. In late 2020, Gateway Newstands, along with its affiliate Tobmar Investments International Inc., decided to wind-down operations at its franchise locations in the United States. [3][4]
By May 2022, Gateway Newstands had filed for creditor protection with Gateway owing creditors $20 million. In 2020 and 2021, about 40 Gateway locations had closed dropping from 191 locations at the beginning of 2020 to 150 in April 2022. The business decline was attributed to a lack of foot traffic due to the COVID-19 pandemic.[5]
Gateway Newstands once operated over 300 locations in US and Canada in major urban centers. It had 65 locations in the Toronto subway system since the mid-1990s.[6] It is the exclusive newsstand retailer in North America’s 3rd largest transit system, the Toronto Transit Commission.[7] Competitors to Gateway Newstands accused the Toronto Transit Commission of sole-sourcing.[8]
References
- Company Overview of Tobmar Investments International Inc. Bloombery Businessweek, retrieved 9 November 2014^
- About Us Gateway Newstands, retrieved 2020-09-10^
- About Us Gateway Newstands, retrieved 2020-09-10^
- Franchising Gateway Newstands Gateway Newstands, retrieved 9 November 2014^
- Rosa Saba. Gateway Newstands — a mainstay of TTC stations — goes into creditor protection after getting slammed by the pandemic Toronto Star, May 10, 2022^
- GATEWAY - LEASE Toronto Transit Commission, 21 January 2013^
- About Us Gateway Newstands, retrieved 2020-09-10^
- TTC lease extension has newsstand competitor crying foul thestar.com, 2013-01-24, retrieved 2020-09-10^