Walmart Canada says it’s getting rid of property controls relating to retail competition across the country.
The grocery industry’s use of property controls, which are terms baked into commercial leases that put restrictions on other tenants and their activities, has recently come under scrutiny.
Walmart said Friday it decided to “unilaterally waive any competitive retail restrictions” and is in the process of notifying its landlords and other landowners of the change.
The Competition Bureau is investigating the use of these restrictive clauses by Loblaw and Sobeys, and has said they are hampering competition in the grocery sector.
In October, Loblaw said it would eliminate its use of commercial property controls if other grocers did the same.
At the time, Sobeys owner Empire said it would like to see the government eliminate the use of the clauses across retail.
This report by The Canadian Press was first published Nov. 22, 2024.
Companies in this story: (TSX:L, TSX:EMP.A)
Rosa Saba, The Canadian Press