Hudson's Bay gets permission to sell leases to owner of Bluenotes and landlord
TORONTO -- Hudson's Bay has received court approval for two deals that will see it sell six of its leases.
Ontario Superior Court judge Peter Osborne gave the collapsed retailer permission to sell five leases to YM Inc. for $5.03 million.
YM Inc. owns a slew of mall brands including Bluenotes, Urban Planet, Suzy Shier and West 49.
Osborne is also allowing the Bay to move forward with another deal it struck to sell its lease at Metrotown in Burnaby, B.C., to Ivanhoe Realties Inc. for $20,000.
The deals will help the Bay shave off a sliver of the $1.1 billion in debt it had when it filed for creditor protection in March.
Osborne also used today's hearing to extend the Bay's creditor protection to Oct. 31.
This report by The Canadian Press was first published July 31, 2025.
By Tara Deschamps
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