Midtown Plaza seeks to delay MEC sale over attempt to abandon Saskatoon lease
Bryn Levy, The StarPhoenix
Sep 29, 2020
The head of the downtown business improvement district said it will be disappointing to many people if the troubled outdoor retailer Mountain Equipment Co-op does not follow through on plans to open a store in Saskatoon.
“There’s some concern there. You always hope that your largest property owner, a key business property in downtown and for our whole city, is able to be fully-outfitted with tenants,” Brent Penner said Tuesday.
“My hope is that something changes for the positive.”
That is now in the hands of a British Columbia court, which the company that owns the Midtown Plaza is petitioning to delay MEC’s sale to the U.S. private investment firm Kingswood Capital Management.
Documents filed this week in a Vancouver court outline the downtown mall’s efforts to keep the beleaguered retailer as an anchor tenant for the recently renovated facility as MEC seeks to end its lease under provisions of the Companies Creditors Arrangement Act (CCAA).
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