Hudson's Bay Closing Reimagines Malls
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•Business
Business & Economics
Vacant Hudson’s Bay stores could spark interest — if landlords are willing to get creative | Globalnews.ca
66% Informative
Retail and real estate experts say the closure of most of Hudson ’s department stores offers a chance to reimagine high-traffic spaces in malls.
Landlords want as much control back as they can get, but few brands other than Walmart , Canadian Tire , La Maison Simons , The Brick, Ikea or grocery stores would want to take over as much space as Hudson's Bay will leave behind.
Any reinvention will largely hinge on the outcome of the company's creditor protection case.
Lawyers for Hudson’s Bay landlords say leases carry “extraordinary’ benefits and concessions, including “more favourable rent” Crafting a new lease with a new tenant won’t be quick, said Eggert .
“The whole process can take a couple of years ,” she said.
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