Hudson's Bay heads back to court for fight with lender over Ruby Liu deal

Billionaire Ruby Liu listens during an interview at a former Hudson's Bay-owned Saks Off 5th department store after a "handover ceremony" where she received the keys to the space at Tsawwassen Mills shopping mall that she owns, in Tsawwassen, B.C., on Thursday, June 26, 2025. THE CANADIAN PRESS/Darryl Dyck

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TORONTO - Hudson鈥檚 Bay is headed back to court today for a fight with one of its biggest lenders.

Restore Capital LLC will ask Judge Peter Osborne to terminate a deal between the defunct retailer and B.C. billionaire Ruby Liu, who wants to buy up to 25 of its leases.

The lender argues efforts to get landlords opposing the deal on board with it have so far proven costly and unsuccessful, thus minimizing how much it will be able to recover from the collapsed retailer.

To aid in the Bay鈥檚 wind down, Restore wants the court to appoint a 鈥渟uper monitor鈥 to subject the department store chain to even more oversight.

If the court doesn't agree to a "super monitor" arrangement, Restore suggests appointing Richter Consulting Inc. as a receiver.聽

The Bay says it doesn't need more oversight because it's properly governed. It maintains the Liu deal is the best shot it has at recovering more cash for creditors.

This report by 春色直播was first published July 15, 2025.

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