TORONTO — A showdown between Hudson's Bay and a group of landlords opposing the retailer's push to sell about two dozen of its leases to a B.C. billionaire got underway in court today.
The battle has been simmering ever since the Bay announced in May that it had selected Ruby Liu to buy 28 of its leases.
Three in malls she owns were already transferred to Liu, but landlords are fighting the sale of 25 more, saying the timelines and budget in her business plan are insufficient for her to develop a new department store.
A lawyer for the Bay kicked off today's hearing by arguing that the landlord's objections are misguided and that Liu is a tenant with a fresh slate.
The lawyer says Liu not only has zero debt, unlike the Bay, but has significant capital and will easily be able to get more.
She says Liu has also committed to paying a year of rent upfront, which was something the Bay never provided.
This report by The Canadian Press was first published Aug. 28, 2025.
Tara Deschamps, The Canadian Press
