The B.C. billionaire fighting to take over Hudson’s Bay stores
On June 1, Hudson’s Bay – the iconic department store brand whose operation predates the founding of Canada – sold its last striped blanket. Struggling under $1.1 billion in debt, the company was granted court protection from its creditors in the spring. Since then, it’s cleared the shelves in liquidation sales, sold its brand identity and laid off more than 8300 people.
Now, the courts are selling off what’s left, including the leases to nearly 100 massive store locations left sitting empty. B.C. billionaire Ruby Liu is set on buying 28 of those leases – but nearly every landlord involved is…
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