The Metro Vancouver Retail Thread

[jollyburger]

German jeweller sues Bay for $2.3 million over licence deal

A German designer of luxury jewelry is suing troubled Hudson’s Bay Canada for $2.3 million in B.C. Supreme Court.

Amor Germany and its B.C.-based subsidiary, Amor Canada, have filed two lawsuits alleging nonpayment of proceeds from a licence agreement the two companies signed in 2010.

The German company says it is owed $1.1 million for sales between February and August of 2024 and another $1.2 million for sales after that, according to the lawsuits.

https://vancouversun.com/news/german-jeweller-sues-bay-2-3-million

[officedweller]

In the former Brooks Bros on Alberni:

Luxury retailer Ralph Lauren to open second Canadian store in downtown Vancouver
https://dailyhive.com/vancouver/ralph-lauren-alberni-street-vancouver-store

[jollyburger]

McArthurGlen Vancouver Expands with New Brands & Phase Three

The retail mix at McArthurGlen Vancouver is evolving with the addition of new brands, including Marc Jacobs, which has opened its third Canadian location—and the only one on the West Coast. The store initially launched with accessories, including its well-known tote bags, wallets, and other leather goods, with ready-to-wear fashion expected to arrive at a later date.

In addition to fashion retailers, McArthurGlen is also enhancing its food and beverage options with the upcoming opening of Kinton Ramen.

“I can’t share a date just yet, but I hope to be able to provide more details imminently,” he said. “Given our high occupancy levels and continued demand from brands looking to enter the centre, we see this as a natural next step.”

https://retail-insider.com/retail-inside...ver-expands-with-new-brands-phase-three/

[jollyburger]

Where's the part where she calls the US and asks for a financing injection?

Canada’s oldest company Hudson’s Bay says it will begin liquidating its entire business as soon as next week unless it finds a more viable path forward.

The department store chain with 80 stores says it has been forced toward a full liquidation because exhaustive efforts haven’t turned up the financing the company needs to restructure.

Hudson’s Bay says it remains hopeful that it can drum up capital and find a solution with stakeholders, including its landlord partners, to avoid a full shutdown.

“Our team has worked incredibly hard to identify a viable path forward, and our resolve is strengthened by the overwhelming support from customers and associates who have shared heartfelt stories about Hudson’s Bay and what our stores have meant to them, their families, and their communities across the generations,” said Liz Rodbell, President and Chief Executive Officer of Hudson’s Bay. “These powerful experiences remind us why we must continue to pursue every possible opportunity to secure the necessary support from key landlords and other stakeholders to save The Bay.”

Assuming receipt of a Court order on Monday at the “comeback motion,” store liquidations will begin next week. During the liquidation process, Hudson’s Bay and its licensed Canadian Saks Fifth Avenue and Saks Off 5th stores will remain open to serve customers in stores and, for a limited time, online at TheBay.com. The Company will share additional details regarding impacted locations, closure timelines, and customer accommodations, including final sales events. Once the liquidation sale begins, all sales will be final.

https://www.businesswire.com/news/home/2...n-Unless-an-Alternative-Solution-Emerges

[Changing City]

Originally Posted by jollyburger

Where's the part where she calls the US and asks for a financing injection?

https://www.businesswire.com/news/home/2...n-Unless-an-Alternative-Solution-Emerges

The state of the company finances would seem to be too far gone for that to occur. Their known debts are just short of one billion dollars, owed to 2,000 creditors.

[jollyburger]

The Comeback motion got posted.

extending the Stay Period until and including May 15, 2025;

While the Applicants remain hopeful that a restructuring solution may still be identified that will see the Company continue as a going concern, the only DIP financing that the Company was able to secure (despite discussions with various potential financing providers) requires the Applicants to immediately commence a full Liquidation Sale at all of its retail stores. In addition to the Liquidation Sale, the Applicants still intend to run a Lease Monetization Process and a Sale and Investment Solicitation Process.

As the Company had been forced to commence a liquidation of all the Company’s stores, the decision has been made to provide an outside date for the use of outstanding gift cards: April 6, 2025, being approximately one month from the commencement of the CCAA Proceedings.

https://www.alvarezandmarsal.com/sites/d...ion%20Record%20-%20March%2014%202025.pdf

[whatnext]

In typical American fashion it is clear Baker just wanted to suck whatever he could out of the Bay. Closure downtown will leave a big hole with two big former retail spaces sitting empty. Even worse it will just drive shoppers to fascist-enabling oligarchs like Bezos and Amazon.

[jollyburger]

Originally Posted by whatnext

In typical American fashion it is clear Baker just wanted to suck whatever he could out of the Bay. Closure downtown will leave a big hole with two big former retail spaces sitting empty. Even worse it will just drive shoppers to fascist-enabling oligarchs like Bezos and Amazon.

Go tell that to all the Amazon workers at The Post.

[Changing City]

Originally Posted by whatnext

In typical American fashion it is clear Baker just wanted to suck whatever he could out of the Bay. Closure downtown will leave a big hole with two big former retail spaces sitting empty. Even worse it will just drive shoppers to fascist-enabling oligarchs like Bezos and Amazon.

It's more likely to see more shoppers in the (also American owned) Winners and Marshalls stores. (The new Marshalls opens next week). I don't think TJX have known fascist-enabling tendencies?

[NewfBC]

I wonder what every happened to Bonnie Brooks? The ads, those were the days.

Ron.

[whatnext]

Originally Posted by jollyburger

Go tell that to all the Amazon workers at The Post.

Fascists can employee a lot of people. It doesn’t make them “good”.

[jollyburger]

Hudson’s Bay Faces Court Battle Over Unpaid Rent to RioCan

RioCan, which co-owns 12 retail properties with HBC through a joint venture, has taken legal action to overturn an earlier court order that allowed HBC to suspend rent payments to these JV properties while still occupying them. The real estate giant argues that this decision is unprecedented in Canadian insolvency proceedings and puts RioCan’s financial stability at risk.

HBC, which filed for CCAA protection on March 7, 2025, is still paying rent on 84 other leased locations, but under the court-approved restructuring terms, it has exempted itself from rent obligations on the JV properties. RioCan asserts that this selective rent suspension violates CCAA principles, as companies under protection are typically required to continue paying for the use of leased properties.

https://retail-insider.com/retail-inside...court-battle-over-unpaid-rent-to-riocan/

One week later and it all fell apart. That sound believable. The secured creditors are the only one with any stake in the company now.

The March 7 filing was not meant to be the precursor to the closure of the business because Hudson’s Bay was intent to on keeping the company alive and as much of its sprawling footprint operational as possible.

One week later, the company finds itself in much more dire shape. It said the store-by-store liquidation is necessary because it has only secured “limited” debtor-in-possession financing — a form of capital companies can seek for restructuring purposes after they make creditor protection filings.

https://www.thestar.com/business/hudsons...96c6889-578a-5ce2-a546-d597b2893bbd.html

[Capitol Hill]

I can’t imagine anybody looking at the books and seeing what the current business climate is in N America thinking that HBC would be a wise investment. I think somebody will buy HBC branding and open shops selling HBC branded blankets and stripe stuff, but it’ll be a mall sized store, not a department store.

Just my guess.

[connect2source]

With the imminent demise of HBC and the very likely closure of the landmark downtown Vancouver location, perhaps players like Simons would be incentivized to perhaps look at the former Nordstrom / Eatons space again given that they would face far less competition without Hudson's Bay close-by. I still think downtown Vancouver and Pacific Centre specifically would be a far better fit for Simons over potentially Oakridge. Regardless, I hope something is in the works for that giant space as having two massive empty former dept. store spaces wont likely bode well for downtown retail.

[Sheba]

Originally Posted by connect2source

With the imminent demise of HBC and the very likely closure of the landmark downtown Vancouver location, perhaps players like Simons would be incentivized to perhaps look at the former Nordstrom / Eatons space again given that they would face far less competition without Hudson's Bay close-by. I still think downtown Vancouver and Pacific Centre specifically would be a far better fit for Simons over potentially Oakridge. Regardless, I hope something is in the works for that giant space as having two massive empty former dept. store spaces wont likely bode well for downtown retail.

How many places would be looking for a large footprint now (and are missing from downtown Van)? I can think of Ikea...

[dreambrother808]

Originally Posted by connect2source

With the imminent demise of HBC and the very likely closure of the landmark downtown Vancouver location, perhaps players like Simons would be incentivized to perhaps look at the former Nordstrom / Eatons space again given that they would face far less competition without Hudson's Bay close-by. I still think downtown Vancouver and Pacific Centre specifically would be a far better fit for Simons over potentially Oakridge. Regardless, I hope something is in the works for that giant space as having two massive empty former dept. store spaces wont likely bode well for downtown retail.

I imagine Cadillac Fairview buying the downtown building and then developing it as part of Pacific Centre.

[s211]

Originally Posted by Sheba

How many places would be looking for a large footprint now (and are missing from downtown Van)? I can think of Ikea...

Walmart!

[Changing City]

Originally Posted by Sheba

How many places would be looking for a large footprint now (and are missing from downtown Van)? I can think of Ikea...

It wouldn't seem to be a particularly appropriate location for an IKEA (if they were looking for a Downtown store). There's no parking under the building, and if the Bay Parkade ever gets redeveloped, there won't be any conveniently located in future either.

[WarrenC12]

The downtown Van location is comically large. They could have a big box retailer on every floor.

[jollyburger]

Originally Posted by Changing City

It wouldn't seem to be a particularly appropriate location for an IKEA (if they were looking for a Downtown store). There's no parking under the building, and if the Bay Parkade ever gets redeveloped, there won't be any conveniently located in future either.

I think they get 500 spots in any redevelopment of the parkade site.

https://dailyhive.com/vancouver/hudsons-bay-parkade-vancouver-holborn-group