World News – CA – Coronavirus: HBC sues Yorkdale owner Square One over failure to run first-class malls

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TORONTO – Hudson’s Bay Company has taken legal action against the owner of several of its department stores, alleging failure to operate and maintain « premier shopping malls order « 

In statement filed in Ontario Superior Court, HBC alleges Oxford Properties Retail Holdings violated good faith leases and contractual obligation

The retailer says Oxford, which has a portfolio of shopping centers including Yorkdale Mall in North York and Square One Mall in Mississauga, has refused to provide suitable premises since it reopened after COVID shutdowns -19

Oxford said in an email that HBC’s complaints are unfounded and that it is convinced it will prevail

“As of April 1, HBC has not paid rent in most of our shopping centers across Canada, and seven months of recurring attempts to engage the company in constructive dialogue have repeatedly been ignored »He writes

« Recently, HBC has started raising frivolous and self-serving complaints about the operation of several shopping malls in a transparent and dishonest attempt to retroactively justify its decision to stop paying rent »

HBC says in the file that the owner has refused to adapt their malls to the pandemic and no longer provides a retail environment considered safe or attractive by the public

The company is asking for a statement that it does not have to pay rent until the landlord fixes the issues, as well as a ‘refund’ of the rent paid to Yorkdale Shopping Center Holdings Inc, Square Shopping Center One Holdings Inc and other Oxford affiliates since April this year

Earlier this month, Oxford and Cominar Real Estate Investment Trust sued HBC in Quebec for unpaid rent, alleging that the iconic department store that houses shopping malls across Canada had failed to pay its invoices in several places since April

Hudson’s Bay Company, Owner, HBC, Oxford Properties, Square One Shopping Center

News from around the world – CA – Coronavirus: HBC sues Yorkdale owner, Square One, alleging failure to operate first class shopping malls


SOURCE: https://www.w24news.com

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