RE:RE:The problem with the distribution cut was the timing unless Winners, Toys R US, Walking on a Cloud, Ardene declare bankruptcy (which they won't, they are paying rent. If not the store will be foreclosed on, property sold and parent company sued.
a company has two choices, pay rent or declare bakrupcy...
in the case of Cineplex, Sonshine made a deal for rent abatement in exchange for redevelopment rights which appears to be a good move, but at the same time, cineplex disclosed that landlords also agree to rent payment tied to traffic at movie theatres which is not a good move!
thenewsnake wrote: The problem was Toronto (50% revenue) went into a full lockdown, which was unexpected, and with no expiration date. Winners, Toys R US, Walking on a Cloud, Ardene, everything is shut. This was the death nail to some of those smaller places, because XMas made up a huge part of yearly revenue. I'm telling you, don't blame Riocan, blame the politicians. They killed businesses at the most pivotal parrt of the year. At least wait till Jan 1