Largest mall owners face vacancies

Article Abstract:

The two largest shopping mall owners in Canada are facing the possibility of seeing their prime retail space vacant for nearly a year after troubled department store chain moves out. The insolvent retailer will leave by the end of Nov 1999 after its liquidation sales is finished. T Eaton has outlets in 17 of Cadillac Fairview Corp's malls and 13 outlets in the malls of Cambridge Shopping Centres Ltd. The retailer accounts for 2.5% and 2.9% of the total annual revenues of Cadillac and Cambridge, respectively.

Facilities & equipment, Shopping center developers

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Eaton's landlords bid for leases

Article Abstract:

Cadillac Fairview Corp and Cambridge Shopping Centers Ltd, the two biggest landlords of the bankrupt Canadian retailer T. Eaton Co Ltd, want to regain control of some of the retail chain's leases. Cadillac is offering to reclaim almost all of 17 leases held by Eaton, while Cambridge wants to get back some of the 13 locations currently occupied by 13 Eaton's stores. Sources say the two shopping center developers want to acquire the leases in a competitive bidding process.

Asset sales & divestitures, Acquisitions & mergers

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Eaton's landlords poised to seize Quebec leases

Article Abstract:

Landlords of the insolvent depart store firm T Eaton Company Ltd declared that they would appropriate Eaton's leases once it becomes bankrupt. Eaton will be declared bankrupt if its restructuring plan is not approved by the court. Landlords are entitled to seize Eaton's leases in Quebec under the province's bankruptcy laws. Eaton was given bankruptcy protection on Aug 23, 1999 and its leases cannot be seized for as long as it is under court protection.

Organizational history, Department Stores

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