Overview
- Hudson’s Bay said it has disclaimed leases for 25 former stores that B.C. billionaire Ruby Liu sought to assume, with control reverting to landlords on Nov. 27 unless a landlord objects.
- The company will continue making twice‑monthly rent payments on the spaces until the termination date.
- An Ontario Superior Court blocked forced assignment of the leases to Liu after finding her business plans deficient, following opposition from major mall owners.
- The collapse of the $69.1‑million lease sale removes roughly $50 million that HBC projected for creditor recoveries after costs.
- Liu earlier won court approval for three locations in B.C. malls she owns, while many other former Bay leases attracted no bids, leaving landlords to reclaim large areas for redevelopment.