US EditionPeace 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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The Globe & Mail+16 Reposted by 16 other sources
Peace Bridge duty-free shop goes into receivership amid plummeting traveller volumes
The Buffalo and Fort Erie Public Bridge Authority claims the store owes it up to $17-million in unpaid rent going back years, while RBC says $3.3-million in debt is outstanding
·Canada
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Leaning Left7Leaning Right3Center2Last UpdatedBias Distribution58% Left
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R 25%
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