Photo: Chelsea Powrie

Bye bye Bay?

As the demise of Canada's oldest company continues to unfurl, malls in the Thompson-Okanagan that have relied on the department store as cornerstone tenants are keeping quiet about a future without The Bay.

As of Friday evening, Hudson's Bay, which applied for creditor protection in March, reportedly has court permission to liquidate all but six of its stores nationwide beginning Monday.

This is in response to ongoing financial woes that have seen lawyers for the company scrambling to find financial backing to keep the company running, and creditors seeking ways to claw back assets.

None of the six stores slated to be saved are in British Columbia.

In the Thompson-Okanagan, Kamloops, Vernon, Kelowna and Penticton each have one classic indoor mall, all of which have a significant footprint held by The Bay.

But each of the malls, in their own way, have refused to comment on what losing The Bay might mean for their overhead, and therefore the future for their other tenants.

In Penticton, Cherry Lane Shopping Centre is anchored by The Bay in its central, largest space, with Save on Foods and London Drugs bookending.

The mall has sued Hudson's Bay in the past for unpaid rent. At the time, court documents showed that The Bay's monthly rent was roughly $78,000.

Cherry Lane did not respond to Castanet's requests for comment.

Some smaller Cherry Lane tenants had their own thoughts about the mall without The Bay, on a day-to-day basis.

A team lead at Purdy's Chocolates told Castanet they are not worried since The Bay does not seem to attract much foot traffic anyway.

A representative at Showcase store said it was hard to say whether to be worried, because it is not a busy store, and that they hoped to see something "more worthwhile" to drive traffic.

And a Coles bookstore representative said they don't expect to be impacted, while a Suzanne's representative said there may be a drop in foot traffic.

In Vernon, Village Green Shopping Centre houses The Bay, and some tenants also shared their thoughts.

The Okanagan Gift Shop told Castanet that they are worried the store closing would reduce mall traffic, as did the Artisan Gift Shop.

Another tenant, Interior Inkjet and Toner, said they are not worried.

In Kelowna, Orchard Park Mall's marketing management group provided a statement that "our head office in Toronto will be issuing a formal press release confirming all information and updates regarding The Bay at Orchard Park," which had not been received as of Friday evening.

In Kamloops, Aberdeen Mall marketing manager Kristi Williams said only "Aberdeen Mall is unable to comment on the situation and we are not authorized to comment on behalf of our tenants," in an emailed statement.

However, unionized workers at The Bay location there made it clear they are unhappy.

“Generations of families have shopped at this store and been served by our amazing members, who have taken great pride in their work. The liquidation and the company’s ongoing financial struggles are deeply concerning," said Jordan Lawrence, USW Local 1-417 financial secretary aid, in a press release representing 30 unionized workers at The Bay there.

Some of the malls' smaller tenants' nonchalant reactions echo what experts are saying about the retail giant's demise, pointing to its inability to draw consumers in the door or adapt to new times.

"The Bay in particular … really struggled to adjust to changes in consumer shopping habits, preferences and the demand for goods,” Jamie Hyodo, an assistant professor of consumer behaviour at Western University, said in a recent interview with The Canadian Press.

More clarity about the potential liquidation rollout is expected after the weekend.

-With files from The Canadian Press