The Hudson’s Bay Company has announced that it is permanently shutting down its downtown Winnipeg location starting Monday, months before the company initially planned to unplug the city’s iconic landmark.
Earlier this year, the Hudson’s Bay Company announced it would close the Portage Avenue and Memorial Boulevard store in February 2021, but on Monday the company confirmed those plans had changed thanks to current restrictions. of COVID-19.
Hudson’s Bay to close downtown Winnipeg
“In light of the recently announced restrictions on non-essential retail by the Government of Manitoba, we made the decision to close this location today,” HBC spokesperson Tiffany Bourré said in an email. Monday evening.
The Manitoba government forced many non-essential outlets to close on November 12 in an attempt to curb the surge in COVID-19 cases.
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Closure of the bay in downtown Winnipeg
When the company first announced plans to close the store in October, it said the decision was made because of “changing consumer behavior and changes in how and where they shop. .
“While these decisions are difficult, they are the right ones for our business and reflect customer preferences,” the company said in a statement in October.
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“All eligible associates will receive appropriate termination packages and transfer opportunities will be explored to the extent possible.”
The Polo Park and St. Vital locations will remain open, Bourré said Monday.
The Hudson’s Bay Company opened the downtown Winnipeg store to buyers in 1926 and the building received a city heritage designation in 2019.
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The company’s decision to close the store in October has left many wondering what might occupy the iconic six-story department store, but so far no plan has been announced.
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An appraisal of the building, carried out last year by Cushman & Wakefield for the Hudson’s Bay Company, valued the nearly 100-year-old building at $ 0 if it were to be leased to the company .
Cushman & Wakefield found that with just over $ 91 million in upgrades, the building’s value would rise to $ 8 million if leased to a single tenant.
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With just over $ 111 million worth of improvements, that value would drop to just under $ 10.8 million if it were leased to multiple tenants.
Bourré said on Monday the company remains open to working with the city and its partners to find opportunities for the building.
“A flood of ideas” is already under discussion for the soon-to-be-evacuated Bay building
“The historic building has been a landmark in Winnipeg for generations,” said Bourré.
“We remain committed to working with partners to find opportunities for this location that will have a positive impact on the community.”
– With files from Anya Nazeravich and Kevin Hirschfield
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