TORONTO — One of Hudson’s Bay’s biggest lenders says the department store chain has handled its liquidation so badly that a court should end a buzzy but fraught lease transaction the retailer signed with a B.C. billionaire and subject the company to even more oversight as it winds down.
A motion filed Tuesday by Restore Capital LLC asks a court to stop the defunct retailer from selling up to 25 of its leases to mall owner Ruby Liu and appoint a “super monitor” to more prudently liquidate the remainder of its assets.
It argues both are necessary because the retailer has “frittered away” Restore’s collateral “without any clear path
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