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Peace Bridge duty-free shop goes into receivership amid plummeting traveller volumes
- A judge ordered the Peace Bridge duty-free shop into receivership because it struggles with millions in debt and overdue rent, as ordered by the Ontario Superior Court of Justice.
- The Buffalo and Fort Erie Public Bridge Authority claims the shop owes up to $17 million in unpaid rent, while the Royal Bank of Canada states $3.3 million in outstanding debt.
- The store's financial issues are linked to declining cross-border travel, with nearly 900,000 fewer Canadians crossing into the U.S. in March compared to the previous year.
- Statistics Canada reports a 32 percent drop in Canadians returning by car from the U.S. in March, marking three consecutive months of decline since the pandemic.
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21 Articles
21 Articles
One judge ordered the tax-free shop at Canada's second busiest border crossing to be sequestered, which is hard to repay millions of dollars of unpaid debts and rents.
·Montreal, Canada
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The Toronto Star+16 Reposted by 16 other sources
Peace Bridge duty-free shop goes into receivership amid plummeting traveller volumes
TORONTO - A judge is ordering the duty-free shop at Canada's second-busiest border crossing into receivership as it struggles to pay off millions of dollars in debt and overdue rent.
·Toronto, Canada
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Total News Sources21
Leaning Left14Leaning Right3Center2Last UpdatedBias Distribution74% Left
Bias Distribution
- 74% of the sources lean Left
74% Left
L 74%
R 16%
Factuality
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