News   Apr 03, 2020
From the Editor: A Message to Our Readers
 7.4K     3 
News   Apr 02, 2020
Topping Off March 2020: What's Hot on SkyriseEdmonton
 7.8K     0 
News   Apr 02, 2020
News Roundup for April 2, 2020
 2.6K     0 

Southgate Centre Renovations | ?m | ?s | Ivanhoé Cambridge

Status
Not open for further replies.
I had heard that during the worst of COVID the Bay was not paying rent, not sure which locations. I assumed they would have resumed paying once things opened up more, but perhaps they are in more trouble than we realize.
 
Why would it be shocking? If you have a business and it is not generating funds a predicted, what do you think is the next step? Some people can't make their rent, fall behind, then built up a huge owing before having to vacate...it is normal for this to happen for personal or business.
 
It would be a shock if the Bay is not paying its rent. The company considers the South Gate location to be the flagship location of Edmonton.
 
AFAIK Hudson's Bay is paying rent at Southgate, however, they were in some hot water with some other well known landlords at other locations back in the fall 2020.

www.westerninvestor.com

Hudson Bay faces eviction for not paying rent

Canada’s oldest retailer faces eviction from Coquitlam mall and is in conflict with eight other landlords across Canada and in the U.S.
www.westerninvestor.com www.westerninvestor.com
 
Avenuer said:
Now Edmonton just needs a Decathlon somewhere! The only location west of Ontario is in Calgary at Southcentre.
Click to expand...
The article provide a quote from the company CEO "We had a successful expansion in Calgary with our two stores in (CF) Market Mall and Southcentre (Mall)."
 
NathanielBorody said:
It would be a shock if the Bay is not paying its rent. The company considers the South Gate location to be the flagship location of Edmonton.
Click to expand...
They were in trouble going back 20 years ago... despite acquiring some giant retailers in the last decade, The Bay was/is not a stable company.
 
Clearshades said:
They were in trouble going back 20 years ago... despite acquiring some giant retailers in the last decade, The Bay was/is not a stable company.
Click to expand...
There are rumors they will be closing the Kingsway and Londonderry locations within the next couple of years and just focusing on WEM and Southgate.
 
Avenuer said:
There are rumors they will be closing the Kingsway and Londonderry locations within the next couple of years and just focusing on WEM and Southgate.
Click to expand...
I think because the Bay is one of the few department stores left, they don't have much competition and they had an extensive real estate portfolio that has helped them out a lot to stay afloat.

So, it may be a more gradual decline that say Eatons, but I too wonder about the future. If they have to keep closing locations, they will eventually either shrink themselves out of existence or become largely irrelevant.
 
Took a peek inside the Sporting Life store

20221127_132109.jpg

20221127_132849.jpg

20221127_132906.jpg



There is an empty CRU next to the Sporting Life

20221127_132118.jpg



The Bay escalator is still under construction

20221127_133559.jpg
 
Status
Not open for further replies.

Back
Top