matrix
Active Member
I could imagine they would be strongly considered for some. That's the only department store left that can really fill an anchor space like The Bay's. I can see them at Sherway and STC for sure
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rdaner
Senior Member
Bayer
Senior Member
Not a big shopper but I used to love having lunch under the dome at the Printemps Haussmann's brasserie. But they made it into an event space.
As for the store itself, it's probably too good for us!
torontowest91
Active Member
If Nordstrom didn’t survive … not sure
TossYourJacket
Senior Member
One thing I think to keep in mind regarding Simons is that they're typically very slow and cautious regarding expansion (which seems to work well for them). So I wouldn't expect them to pick up more than a couple new stores at any given time. Now if some of these HBC locations stay empty for a while then I could see them eventually moving in, Sherway and STC would both make sense long-term, but given their usual pace of expansion, they're probably going to want to see how Yorkdale and TEC do before planning more Toronto locations. I'd expect downtown Vancouver to happen before any more Toronto stores, whether that's either the former Nordstrom space in the Pacific Centre (which is still empty), or the Hudson's Bay Building.
matrix
Active Member
I see where you're coming from. I don't see them immediately jumping on any Bay leases this year or even the first half of next year, but I don't think it's lost on them that this is a good expansion opportunity either way. I agree though on Vancouver, they probably have their eyes set on those spaces first.
Northern Light
Superstar
Bolded: Good guess.
RGB_11
Active Member
What happens with MEC? Aren't they in bed with the Bay, sharing some of the space?
rdaner
Senior Member
Not a comment on Nordstrom but Printemps is in an entirely different galaxy!
RGB_11
Active Member
I have to agree, since they claim they are NOT a department store: (pic found online)Not a comment on Nordstrom but Printemps is in an entirely different galaxy!
NOT a Department store
Northern Light
Superstar
MEC is not entangled with HBC.
Its just a vendor w/in a few stores.
MEC is for sale by its owner.
thettctransitfanatic
Senior Member
So I was just in The Bay at Mapleview here is what I saw:
"Liquidation" had already started, though most items were only 15-35% off, very few were 50% off
It was very busy, and filled with customers. This is unusual because usually in the past few years, Bays are empty
Lots of people in the Zellers section, looking at items and also looking at clothes as well
The outside of the store on the lower level had multiple cracks in the wall, with scaffolding apparent and covers covering the cracks in the wall
It was very hot inside, and it was apparent the stores heat was cranked up very high and creating a uncomfortable feel inside.
Escalators not working, but the elevator was, and only 2 on cash. Also oversaw a staff member discussing the bankruptcy with a customer....
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UpwithOlives
Active Member
That's usually the final blow. Private equity buys for the real estate. Spins off the real estate and starts charging rent, and interest on the purchase. Expenses go through the roof and the original company dies. Private equity writes off the losses. Happens over and over again.
matrix
Active Member
Expected that they're seeing more traffic in its last days. I'm heading to Yorkdale tomorrow, should be interesting to see what it's like at that Bay...
PL1
Senior Member
I just spent my $50 GC at the Queen/Yonge/TEC store.
It was very hot. I guess they're going to stiff Toronto Hydro on this
As others have noted, most escalators were not functioning. I didn't check out the elevators.
It was reasonably busy, but no great deals. Still, a new shirt is better than a worthless GC!!!