Loading articles...

Coquitlam Hudson's Bay reopens after closure over unpaid rent

Last Updated Nov 26, 2020 at 10:50 pm PST

The Hudson's Bay location at Coquitlam Centre on Thursday, November 26th. (Image Credit: CityNews)
Summary

The Bay at Coquitlam Centre has opened its doors again after a court decision sided with the retailer

The Bay has been battling with a number of landlords across the country after struggling with bills for a few months

The company says it's grateful that the Supreme Court of B.C. recognized the extraordinary challenges of the pandemic

COQUITLAM (NEWS 1130) — Shoppers at Coquitlam Centre can once again spend their money at the Bay after a court decision sided with the retailer.

The HBC department store was shut down over the weekend by property management firm Morguard Investments because the rent hadn’t been paid. In the court decision, HBC must pay 50 per cent of the rent owed.

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.

In a statement to NEWS 1130, the Bay says it’s grateful that the Supreme Court of B.C. is acknowledging the extraordinary challenges of the global pandemic.

“The majority of Canada’s leading landlords share this view and have reached mutually acceptable agreement with us. When Morguard tried to evict us, without regard for the impact on our employees, vendors and other retailers, we had no choice but to defend ourselves,” the statement reads.

The company believes the courts will continue to provide an approach that is fair to landlords and retailers during this difficult time.

RELATED: Retailers brace as virus bears down on consumers and economy

A letter posted Saturday on the department’s door in Coquitlam said the landlord has terminated the store’s lease.

The Bay, like many retailers, has struggled through the COVID-19 pandemic, which has pushed people to do more shopping online.

-with files from Monika Gul and the Canadian Press