US EditionHudson’s Bay Landlords Don’t Want Liu to Move in, but Retailer Still Has a Shot
- This week, Ruby Liu received legal authorization to assume the leases for three Hudson's Bay store locations situated within shopping centers she owns in British Columbia.
- This follows The Bay's March filing for creditor protection and a months-long process to sell up to 28 retail spaces, though landlords oppose transferring leases at 23 sites.
- Liu agreed to pay $6 million for three approved leases and has made a $9.4 million deposit, taking the leases on an 'as is, where is' basis, while landlords remain cautious about lease compliance.
- Legal experts note courts must assess if the lease transfer is suitable by examining tenant ability to perform duties and pay rent, with courts weighing whether the new lease arrangements align with original agreements.
- If Liu obtains more leases, she plans to open new department stores, but landlord resistance and objections could hinder completion of the full agreement amid ongoing court and landlord scrutiny.
34 Articles
34 Articles
Hudson's Bay landlords don't want Ruby Liu to move in, but B.C. businesswoman still has a shot
A group of Hudson's Bay's landlords don't want to transfer more than two dozen leases to British Columbia billionaire Ruby Liu, but the department store still has a chance to get its way.
The owners of 25 leases refuse to give them to the British-Colombian billionaire Ruby Liu.
Winnipeg Free Press
Hudson's Bay landlords don't want Liu to move in, but retailer still has a shot
Breaking News, Sports, Manitoba, Canada
TORONTO — Hudson Bay is likely to be righted by the court in the dispute against former owners, according to lawyers not involved in the case. The owners of 23 leases refuse to give them to the British-Colombian billionaire, Ruby Liu, who wishes to launch a new chain of department stores in former Bay premises. According to these lawyers, La Baie could ask the court to hand over the leases to Ms Liu, even if their holders oppose them because the…
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