The provincial government will lend clothing retailer Simons $81 million, while the Caisse de Depot and Investment Quebec are contributing another $44 million.
The Quebec-based chain began expansion efforts several years ago, branching out of Quebec and into Ottawa, southern Ontario, Alberta and British Columbia. In total, the chain has 15 stores across Canada.
Simons is now moving to expand its online sales department, and is building a new 53,000 square metre distribution centre in the Quebec City region to handle its wares.
President and CEO Peter Simons said the new facility will allow the company to ship 40 million orders per year.
"We're not a gigantic company, we're a small retail player in the global context and we have to be agile and quick and our capital is limited," he said.
In order to build the new facility, the company is getting an $81 million loan from the provincial government, and the Crown corporation Investment Quebec is buying $17 million in shares in the company, while the Caisse de Depot is also contributing $27 million.
The total cost of the new centre is $215 million and is due to be completed by 2020.
