Pandemic shutdowns the last straw for some Canadian retailers, push others to brink princegeorgecitizen.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from princegeorgecitizen.com Daily Mail and Mail on Sunday newspapers.
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As Canadian retailers ranging from small shops to major mall anchors struggle to survive the pandemic, there are suggestions the country’s major shopping-centre landlords could take a page out of the playbook in the United States, where rent collectors have turned into owners by snapping up the assets or operations of those struggling to pay.
In Canada, some of the largest shopping centre landlords are housed within well-capitalized pension funds that could afford to buy key tenants to preserve the value of their holdings, said Bradley Snyder, executive managing director of Tiger Capital Group, a Boston-based firm that provides asset valuation, advisory and disposition services to retail clients.