TORONTO — Hudson’s Bay landlords were back in court Friday arguing a B.C. billionaire doesn’t have the cash needed to launch a new retailer.
Ruby Liu wants to buy 25 Bay leases for $69.1 million and open a new department store named after herself. Court has already approved a separate purchase of three Bay leases in malls she owns for a total $6 million.
The Bay wants to sell her the leases because it will help the retailer repay some of the roughly $1 billion it owes creditors. It says the larger Liu deal is the “last path to realizing any value for the company’s 98 leases.”
Hudson’s Bay
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