A Hudson's Bay Store Has Been Closed In BC & It's Apparently Due
Trouble could be on the horizon for one of Canada’s largest retailers. A Hudson’s Bay store in B.C. has closed and it’s apparently due to unpaid rent. Shoppers in Coquitlam found their local Hudson’s Bay store to be closed as of Saturday, with a note on the door that reportedly says the shut-down is due to unsettled bills. According to a report from CTV News, a notice outside the department store says the landlord has ended the store’s lease "for default in the payment of rent." Editor's Choice: New Data Shows Thousands Of Canada’s Highest Earners Applied For The CERB $32.84 million Rent reportedly owed by Hudson's Bay in Quebec The letter, which was placed on the store’s door, also accuses the retailer of failing to take “remedial steps” to address the issue. Accordingly, as the default in question constitutes a major default under the lease, the landlord has re-entered and taken possession of the premises to lawfully enforce its rights," the notice reportedly reads. In a statement to Narcity, the department store said, "We are working with our landlord partners across North America to amicably and logically share the losses incurred during this ongoing pandemic." "In this instance, we are eager to reach a fair resolution, just as we have done with other landlord partners." This isn’t the first time Hudson’s Bay has been accused of failing to pay bills. Back in October, three Quebec malls were reportedly owed $32.84 million in rent, an amount that petitioned a motion in court to end the leases. In Ontario, a judge ordered the retailer to pay $659,395 to Hillcrest Mall for unpaid rent between April and October. *This article's cover image is for illustrative purposes only.
Trouble could be on the horizon for one of Canada’s largest retailers. A Hudson’s Bay store in B.C. has closed and it’s apparently due to unpaid rent. Shoppers in Coquitlam found their local Hudson’s Bay store to be closed as of Saturday, with a note on the door that reportedly says the shut-down is due to unsettled bills. According to a report from CTV News, a notice outside the department store says the landlord has ended the store’s lease 'for default in the payment of rent.' Editor's Choice: New Data Shows Thousands Of Canada’s Highest Earners Applied For The CERB $32.84 million Rent reportedly owed by Hudson's Bay in Quebec The letter, which was placed on the store’s door, also accuses the retailer of failing to take “remedial steps” to address the issue. Accordingly, as the default in question constitutes a major default under the lease, the landlord has re-entered and taken possession of the premises to lawfully enforce its rights,' the notice reportedly reads. In a statement to Narcity, the department store said, 'We are working with our landlord partners across North America to amicably and logically share the losses incurred during this ongoing pandemic.' 'In this instance, we are eager to reach a fair resolution, just as we have done with other landlord partners.' This isn’t the first time Hudson’s Bay has been accused of failing to pay bills. Back in October, three Quebec malls were reportedly owed $32.84 million in rent, an amount that petitioned a motion in court to end the leases. In Ontario, a judge ordered the retailer to pay $659,395 to Hillcrest Mall for unpaid rent between April and October. *This article's cover image is for illustrative purposes only.
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