As malls reopen across the country, worries grow that consumers won’t come back GlobeBusiness
Owners were only paid about 20 to 25 per cent of their expected April rent, and around 15 per cent in May.
Ivanhoe Cambridge has given deferrals to the “vast majority” of tenants “in solidarity with the difficult circumstances,” said spokeswoman Katherine Roux Groleau. The crisis, however, will likely also accelerate the trend already underway of mall properties moving away from strictly retail, especially as numerous retailers like Reitmans, Aldo, Pier 1 and others go into creditor protection.
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