US EditionHudson’s Bay reaches deal to sell up to 28 leases to B.C. mall owner
- On May 23, 2025, Hudson's Bay announced plans to sell up to 28 store leases in Alberta and British Columbia to B.C. mall owner Ruby Liu.
- This sale comes as Hudson's Bay, which sought creditor protection earlier this year, continues its liquidation process, attracting bids from 12 parties competing for 39 leases, including one from Canadian Tire.
- Ruby Liu owns three B.C. malls, plans to open a new modern department store focusing on bridging generations and immersive shopping, and promises to prioritize former Bay employees.
- Hudson's Bay agreed to sell the Bay name, its signature stripes design, coat of arms, and several brands to Canadian Tire in a $30 million arrangement subject to court approval, restricting Liu's ability to operate Bay stores without a licensing agreement with Canadian Tire.
- The deal and lease sale signify a restructuring effort for Hudson's Bay amid liquidation, while Liu's retail plans face conditions tied to licensing agreements with Canadian Tire.
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castanet.net+28 Reposted by 28 other sources
Hudson's Bay reaches deal to sell up to 28 leases to B.C. mall owner
Hudson's Bay plans to sell up to 28 of its store leases to a B.C. mall owner who wants to launch "a new modern department store." Canada's oldest company said Friday it will seek court permission for Ruby Liu to take over a group of properties the department store and its sister Saks busin...
·Kelowna, Canada
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