RE:Dispute with Mac'sWitholding average of about 2K per store per month which does add up to $540K per year and Mac's in official default is relatively serious money.
Expect it is a legal necessity on the part of BEK in its negotiations with Mac's \Alimentation Touche Card
Let's see what happens. Could get a price dip which might be an opportunity to add shares
createausername wrote: Should we be concerned about this? "Negotiations remain outstanding for a total of 38 leases for which Macs have exercised renewal options where the base rental amounts have yet to be negotiated. Up to November 2020 Macs continued to pay rent on the 36 Macs stores leased to it by the Company at the applicable time. As required under the applicable lease terms, Macs paid base rents at the same amount as the previous renewal period, pending final negotiation or arbitration of rents. Starting in December 2020, the tenant has not paid a portion of base rent on certain stores and currently are withholding up to $45,000 (plus HST) per month on 23 stores. The Company considers the unpaid amounts collectible under the terms of its leases with Macs, subject to the terms of any overall settlement of rental matters between the parties, and/or determination by an arbitrator. In August 2021 the Companys legal counsel, following managements instructions, sent to Mac's notices of default for 38 of their leases, citing non-payment of base rent and additional rent. The notices also stated that all options made available to Macs under each lease which were conditional upon Macs not being in default were revoked as a result of such default."