Canadian Tire seeks rent hiatus

MONTREAL — Canadian Tire Corp. is seeking a six-month pause, beginning May 1, on rent, utilities and property taxes for Quebec stores of its non-hardware banners, which include L’Equipeur (Mark’s), that have been shuttered during the health emergency. According to Le Journal de Montréal, commercial property owners were outraged by a letter CTC sent in late March and signed by Dominique Boivin, the retailer’s VP of real estate. “It’s unacceptable,” said the manager of one shopping centre. “Canadian Tire made more than $14 billion in revenues in 2019. I don’t understand it. Now they want us to pay for their hydro and taxes.” The request does not affect properties under the Canadian Tire banner, which remain open as essential retailers under Quebec’s rules.