Money’s Worth Closes Three Maritime Stores
AMHERST – A Maritime chain of bargain home renovation shops is reducing its footprint as it closes locations in Nova Scotia, New Brunswick, and P.E.I.
The owners of the Money’s Worth Renovation Center locations in Dieppe, Amherst, and Summerside are selling their assets and closing, said Jason Hoeg, a shareholder with Money’s Worth and the owner of the Amherst location.
Money’s Worth Bible Hill will be the sole location that remains open when the region-wide closures are complete.
“We just had an offer for all of our assets and we own everything, so that was the thing – to sell off assets and for everyone to take a break,” said Hoeg.
The Dieppe location of Money’s Worth, located at 1067 Champlain Street, closed in early November. The Summerside location announced plans to close at the end of November.
“We’ll be the last one to be open. They’re going to shop what they have left down here and we’re going to sell it here,” Hoeg said, referring to the Dieppe store’s plans.
“We had about 10 or 15 people come in today and say they’re going to miss us,” he added.
Founded in 2001, Money’s Worth bills itself as an alternative to larger home renovation chains. It sells building supplies – including overstock and discontinued items – paint, and giftware.
“It’s nice to have competition, it’s good and healthy for everyone when you give them something besides Home Hardware and Kent,” Hoeg said.
The Amherst location of the independently-owned chain has been operating for 22 years.
Hoeg told Huddle the closures across three provinces weren’t on account of a lack of business. He said Money’s Worth has retained loyal customer bases over the years and that the pandemic’s spree of home renovations brought more people in their doors in the last three years.
“We could easily carry on what we’re doing. Everyone has had enough and is looking for something different, I think. I’ve got no complaints. We had a pretty good clientele – lots of repeat customers,” he said.
Hoeg said local apartment projects, like a planned 52-unit apartment building for the corner of Brown and Mosher Streets in Amherst, contributed to keeping business brisk.
Sam Macdonald is a Huddle reporter in Moncton. Send him your feedback and story ideas: [email protected].