Hudson’s Bay Company accused by 2 landlords of not paying rent since April at 5 locations

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Hudson's Bay Company accused by 2 landlords of not paying rent since April at 5 locations

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Two landlords of the Hudson’s Bay Co. are suing the retailer for unpaid lease, alleging the enduring division retailer that anchors procuring malls throughout Canada hasn’t paid its payments at a number of places since April.

The lawsuits filed in Quebec Superior Courtroom by Cominar Actual Property Funding Belief and Oxford Properties Group and its co-owners are searching for so-called safeguard orders compelling HBC to pay lease.

Courtroom paperwork allege HBC owes greater than $3.5 million in lease and different charges at 5 Quebec procuring malls, an quantity that continues to climb by greater than half one million {dollars} every month.

However in an affidavit filed in response, Ian Putnam, president and chief government officer of HBC Properties and Funding, says the corporate has been attempting to achieve a mutually acceptable resolution with the landlords that acknowledges COVID-19’s “dramatic influence” on the retailer.

He says the declare that HBC has refused to interact in good religion negotiations is “fully false.”

Putnam additionally alleges that the landlords are not offering the “top quality” properties that HBC bargained for, noting that the procuring centres at subject have modified considerably since March.

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