As far as I know, there is to be $500 million spent on store revamps/upgrades across the country and this is for all HBC brands. First, that sounds like a lot of money, but spread out it amounts to maybe a couple of million for the Bloor St. store. I somehow don't believe they are going to change the tower or the exterior of the store, when in actual fact, there is nothing physically wrong with them - aesthetically maybe! I am not suggesting that they don't, but I could imagine the private equity firm isn't concerned with the looks of The Bay- at least for the most part. Now I hope I am wrong and they are interested.
p5
The ownership of the Bay is not the same as the ownership of the Hudson's Bay Centre - the two are in different hands - and someone else could be ready to pony up some cash to upscale the HBC. With a makeover of Cumberland Terrace coming and 1BE to rise across the street, they may be feeling the pressure to keep up appearances!
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