Miracle Mart

Miracle Mart (also known as just M) was a discount department store chain in Canada. There were locations throughout Ontario and Quebec. After years of declining sales, Miracle Mart's parent company, Steinberg, filed for bankruptcy, and all of their subsidiaries (except for Miracle Food Mart) were dissolved and ended operations. 
== History ==
In 1961, popular grocery retailer Steinberg decided to get into the discount department store business with Miracle Mart. Originally, Woodward's owned a major stake in the chain, and the first locations were named Woodward Steinberg. The first location opened in Point Viau, QC on October 11th of the same year. 
After the first store became successful, a second location opened at the Place Greenfield Park mall in Greenfield Park, QC. 
In 1962, the partnership with Woodward's ended, and all locations were renamed to Miracle Mart. 
A few years after the first locations opened, a new store concept called Miracle Mart Beaucoup (a lot). These locations included a full Miracle Food Mart location within the store. Around this time, film development services were introduced at most Miracle Mart locations. 
By the 1970s, Miracle Mart began to decline because of competition from the many other discount department store chains that existed at the time. Steinberg began to make losses from the Miracle Mart, so they decided to restructure the chain. 
In 1985, Miracle Mart made a new store concept called "M". Throughout the next two years, most locations were rebranded to "M". By the end of the decade, 20/31 stores were rebranded to the new chain. Throughout the late 1980s and early 1990s, several locations were permanently closed becuase of the restructuring process that was taking place. 
By the 1990s, there were only a couple Miracle Mart stores left in Ontario, which were in Ottawa. The rest of the locations were in Quebec. In 1992, as the company was on the verge of bankruptcy, Steinberg started looking for a buyer for Miracle Mart stores. Since no one wanted to buy the chain, Miracle Mart went bankrupt in June of the same year. By August, all locations were closed, and some were turned into Zellers locations, marking the end of Miracle Mart. 
== See also ==
* Steinberg
* Miracle Food Mart
* Zellers
* Woolco
* The Met/Greenberg
Category:North America
Category:Retailers
Category:Steinberg owned-companies
Category:Defunct retailers
Category:Discount stores
Category:Companies founded in Canada
Category:Companies
Category:1961 establishments
Category:Franchises
Category:Brands