The lease on 75 Eglinton Ave. East that cost TravelBrands more than $3 million last year has been terminated. As reported earlier by Travelweek, TravelBrands had disclaimed the lease which still had a decade and a half to run as TravelBrands had moved its employees from the building to its own premises in Mississauga in November 2013 after buying Thomas Cook. TravelBrands is now in creditor protection. Earlier this month, 75 Eglinton Avenue East Limited Partnership made an application to the court for an order that was consented to by all interested parties. The order authorizes the owner to offer the building to other prospective tenants and to deal with existing subtenants.

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Developments in TravelBrands CCAA proceedings: suppliers, agents, Manulife, TICO, IATA, BMO