TORONTO — Hudson's Bay is expected back in court this morning where it will ask a judge to let it sell three of its leases to a B.C. mall owner.
The defunct department store wants to transfer its leases for Tsawwassen Mills, Mayfair Shopping Centre and Woodgrove Centre to Ruby Liu.
The real estate maven, who leads a company that owns all three malls, has offered $6 million for the trio of leases.
She also wants up to 25 more leases at malls she does not own but Hudson's Bay is still working on getting approval from landlords, who are overwhelmingly objecting.
Aside from the request to sell three leases to Liu, the Ontario Superior Court will also be asked to change the name of the department store company in creditor protection to avoid confusion that could arise now that Canadian Tire owns the rights to the Bay name.
The name change is standard in cases where someone has bought the rights to a collapsing company's name. Canadian Tire Corp. Ltd. bought the Bay name and its trademarks for $30 million.
This report by The Canadian Press was first published June 23, 2025.
Companies in this story: (TSX:CTC.A)
Tara Deschamps, The Canadian Press
