Coquitlam Hudson’s Bay retailer defaulting on rent, forced to close
Posted November 22, 2020 11:57 am.
Last Updated November 22, 2020 12:49 pm.
COQUITLAM (NEWS 1130) — A Hudson’s Bay store in Coquitlam Centre has closed, and a letter posted Saturday on its front door indicates the closure is due to lack of payment of rent.
A letter posted on the door of the department store says the landlord has terminated the store’s lease.
Hudson’s Bay, like many retailers, has struggled through the COVID-19 pandemic, which has pushed people to do more shopping online.
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The 350-year-old retailer that’s owned by an American investment firm has struggled to pay rent elsewhere in Canada, however, Ian Putnam, CEO of HBC Properties, says they have reached agreements with the majority of the Bay’s landlords across the country.