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<\/p>\nA popular and long-standing discount shopping centre west of Toronto has gone into receivership.<\/p>\n
Today, Dixie Outlet Mall, a Mississauga mall that\u2019s home to over 100 stores selling more affordable clothing, home goods and other products, informed shops and vendors that the shopping centre is now under receivership after an Ontario court appointed a receiver to take control of the property and related assets earlier this month.<\/p>\n
An email from Alvarez & Marsal Canada Inc., the receiver and manager of Dixie Outlet Mall\u2019s assets, said the firm is now operating the 1250 South Service Rd. facility.<\/p>\n
The firm\u2019s email says the shopping centre will continue to operate as usual despite the receivership.<\/p>\n
\u201cThe principal purpose of these receivership proceedings is to create a stabilized environment for the continued business operation of the Dixie Outlet Mall in the normal course and to assess and implement the best means of maximizing value for stakeholders,\u201d the email reads, adding that arrangements have been made to ensure businesses in the mall can remain open.\u00a0<\/p>\n
The email also said that Cushman & Wakefield will continue to act as property managers and assist with day-to-day operations. The firm also said that all agreements signed by shops and vendors with the mall remain in effect.\u00a0<\/p>\n
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While the news comes at a time when brick-and-mortar stores and shopping centres continue to grapple with significant shifts in consumer behaviour (not to mention persistent economic challenges), the future of the mall as it stands has been in question amid ambitious development plans for the area<\/a>.\u00a0<\/p>\n Three years ago, initial plans (which have since been revised) to transform property alongside the shopping centre into a mixed-use community with more than 1,200 units in three buildings began moving forward.<\/p>\n The project, dubbed Plan Dixie<\/a>, came forward back in 2019 with the first community open house on the proposal on Oct. 3, 2019. The developers currently have a rezoning application<\/a> with the city for the property at 1250 South Service Rd. <\/p>\n In 2024, developers submitted an amended plan to retain the majority of the mall (34,760.40 square metres on Slate\u2019s property) while redeveloping the underutilized surface parking for residential and open space uses.\u00a0<\/p>\n A 2024 report proposes residential buildings boasting 997 units, 1,009 parking spaces, 4,600 square metres of public parkland and 4,474 square metres of amenity space.\u00a0<\/p>\n The last redevelopment submission available on the city\u2019s website is from May 2024.<\/p>\n Dixie Outlet Mall, which first opened as the Dixie Plaza in 1956, is home to Aldo, Dollarama, Bluenotes, Guess, a Nike clearance store and multiple quick-service restaurants.<\/p>\n