US EditionHudson's Bay asks for approval of first three store lease transfers in B.C.
- Hudson's Bay is seeking court approval to transfer store leases in Nanaimo, Victoria, and Tsawwassen to Central Walk this summer, as part of its creditor protection process.
- Central Walk plans to take over up to 28 Hudson's Bay store leases in British Columbia, Alberta, and Ontario, stating the locations will become modern department stores.
- Michael Culhane, COO and CFO of Hudson's Bay Company, stated the payment from Central Walk is 'fair and reasonable' for the leases.
- The court mandates that the new store name must be dissimilar to, and cannot be confused with, Hudson's Bay Company or any variations.
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