matrix
Active Member
Pretty much what I expected was going to happen... What a shitshow
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nightstreak
Active Member
If the Monitor doesn't approve, this is over for Ruby Liu. Alvarez & Marsal are the judge's eyes and ears and he has no reason to doubt their report. I wonder if there were other parties interested in the 25 stores. Liu's bid collapse pulls $100M out of the creditor pot.
The ideal scenario would be for Canadian Tire to step up and take these stores for less than what Liu bid on, then re-open a handful of Hudson's Bay stores at a fraction of the cost of having to take over The Hudson's Bay Co. as a going concern which would've come with $1Billion debt. For about $100M including the IP, they get the whole thing without inheriting its debt.
shortbranch
Active Member
A miracle! They appear to be repairing the escalators in the PATH connecting to the Eaton's Centre Hudson's Bay (Former) that have been out of service for more than a year. This picture was taken approaching from the Sheraton Centre direction.
nightstreak
Active Member
The Bay Queen’s basement floor makes so much sense as a new PATH retail space, subdivided into corridors and smaller stores, connecting to the Eaton Centre and the subway.
It’ll make even more sense once the Ontario Line’s Queen Station is finished and likely becomes one of the busiest interchange stations on the TTC network.
With The Bay out, there’s more room to maneuver, adding escalators from Queen Street into this new PATH, connecting to the subway station.
stevensontransit
Active Member
So the basement of the former Hudson’s bay is being incorporated into the path corridor?
TossYourJacket
Senior Member
We don't know for sure yet, everything right now is just speculation. But it would make a lot of sense if it were to happen, and feels like a likely outcome. But again, nothing official yet about the future of the space either way.
Personally, I think it's more likely that at least a couple floors of HBC Queen St essentially become a southern block of the Eaton Centre than they become another singular large retail store. PATH in the basement, levels 1,2 and maybe even 3 become essentially an extension of the mall with offices on the upper floors. But that's just a guess.
Jonny5
Senior Member
Wasn't it defacto a part of the PATH already, if not even officially?
I remember working at the Thompson Building in 2005, and they would rope off the walkway between the Queen subway station all the way to the Thompson building so people exiting the subway at Queen could get through the store before it was open and into the rest of the PATH, and it was used like that all day after the store was open. I think only after the store closed they would lock the doors at both the subway station side and the Thompson Building side, but during business hours it was literally a part of the PATH for people to walk straight through with no interest in shopping.
It was often comical to see people frustrated having to stop and wait for mindless shoppers milling about the store to move out of the way so they could get to the subway as The Bay would plonk down merchandise displays in the middle of the walkway.
mcbg1
New Member
I walked there today and there was no fence. Escalators not working.
TossYourJacket
Senior Member
Noticed on my commute home today that framing for walls has started going up along the edges of the PATH walkways inside the Queen St store. Also they've closed off both of the broken escalators to the Bay-Adelaide Centre (you used to be able to walk down the inactive down escalator, now it has blue fencing around it)
Dan416
Senior Member
I noticed that today too lol
thettctransitfanatic
Senior Member
Well here's something surprising: HBC has sold off rights to the Zellers brand to International Clothiers/Fairweather, and they will be opening a new Zellers store tomorrow in Londonderry Mall in Edmonton in the former Hudsons Bay store and it will be 60,000 square feet. Selling clothes, home decor, and reportedly it will have Zeddy bears available. Unclear if it will have a restaurant
www.ctvnews.ca
New Zellers store to open in Edmonton mall’s former Hudson’s Bay space
A north Edmonton mall will be the first in Canada to see the revival of the Zellers department store and first to fill a former Hudson’s Bay space, the shopping centre’s owner said Thursday.
www.ctvnews.ca
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Richard White
Senior Member
matrix
Active Member
One thing I noticed that CBC reported:Well here's something surprising: HBC has sold off rights to the Zellers brand to International Clothiers/Fairweather, and they will be opening a new Zellers store tomorrow in Londonderry Mall in Edmonton in the former Hudsons Bay store and it will be 60,000 square feet. Selling clothes, home decor, and reportedly it will have Zeddy bears available. Unclear if it will have a restaurant
New Zellers store to open in Edmonton mall’s former Hudson’s Bay space
A north Edmonton mall will be the first in Canada to see the revival of the Zellers department store and first to fill a former Hudson’s Bay space, the shopping centre’s owner said Thursday.
Les Ailes de la Mode and Fairweather have been mentioned before on the topic of Bay leases, albeit a footnote on an article about RioCan wanting a buyout of both Georgian Mall and Oakville Place leases:
RioCan Eyeing Buyout Of Hudson's Bay From Georgian Mall, Oakville Place
RioCan owns 50% of the Georgian Mall and Oakville Place, while the RioCan-Hudson's Bay joint venture owns the remaining 50%.
storeys.com
Is Fairweather going to operate a Zellers at Yorkdale too? Looking through the trademark transfer documents it sure does seem like it. I just didn't know what to make of it since Ailes has been shut down for quite some time and I didn't think it would generate any worthwhile discussion around here.
thettctransitfanatic
Senior Member
One thing I noticed that CBC reported:
Les Ailes de la Mode and Fairweather have been mentioned before on the topic of Bay leases, albeit a footnote on an article about RioCan wanting a buyout of both Georgian Mall and Oakville Place leases:
RioCan Eyeing Buyout Of Hudson's Bay From Georgian Mall, Oakville Place
RioCan owns 50% of the Georgian Mall and Oakville Place, while the RioCan-Hudson's Bay joint venture owns the remaining 50%.
Is Fairweather going to operate a Zellers at Yorkdale too? Looking through the trademark transfer documents it sure does seem like it. I just didn't know what to make of it since Ailes has been shut down for quite some time and I didn't think it would generate any worthwhile discussion around here.
It's possible maybe they are relaunching La Ailes De Mode as Zellers for all we know
matrix
Active Member
I would agree, but this surprise soft-launch seems to be a lot more than clothing, especially if they are bringing something like Zeddy into it. Ailes was a department store comparable to Sears or The Bay as far as I know, I don't think they would do that with the Zellers name.
If anything it seems they are using the Ailes company entity to conduct business for whatever reason, if I would hazard a guess.