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Vancouver Sun
14-07-2025
- Business
- Vancouver Sun
Hudson's Bay fights lender that wants Ruby Liu deal terminated: court docs
Hudson's Bay is firing back at one of its biggest lenders. A new court filing from the defunct department store's chief financial officer pushes back on accusations it mishandled its liquidation and is hopelessly pursuing a deal to sell 25 of its leases. Michael Culhane says it's neither fair nor credible for Hilco to criticize the Bay for matters that were foreseeable, inevitable or caused by the investment company itself, which has a subsidiary that served as the Bay's lead liquidator. Hilco and its affiliate, lender Restore Capital, have accused the Bay of bungling the retailer's liquidation by failing to close stores properly and remove fixtures and equipment. Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. They also say the Bay is frittering away their collateral by pushing a deal to sell about two dozen leases to B.C. billionaire Ruby Liu, who landlords do not want to move in. They want the deal, which still needs landlord approval, terminated but the Bay maintains it should move ahead because it will recoup significant cash for its lenders and other creditors. Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our daily newsletter, Posted, here .
National Post
14-07-2025
- Business
- National Post
Hudson's Bay fights lender that wants Ruby Liu deal terminated: court docs
Article content A new court filing from the defunct department store's chief financial officer pushes back on accusations it mishandled its liquidation and is hopelessly pursuing a deal to sell 25 of its leases. Article content Article content Michael Culhane says it's neither fair nor credible for Hilco to criticize the Bay for matters that were foreseeable, inevitable or caused by the investment company itself, which has a subsidiary that served as the Bay's lead liquidator. Article content Article content Hilco and its affiliate, lender Restore Capital, have accused the Bay of bungling the retailer's liquidation by failing to close stores properly and remove fixtures and equipment. Article content Article content They also say the Bay is frittering away their collateral by pushing a deal to sell about two dozen leases to B.C. billionaire Ruby Liu, who landlords do not want to move in. Article content They want the deal, which still needs landlord approval, terminated but the Bay maintains it should move ahead because it will recoup significant cash for its lenders and other creditors. Article content
Toronto Sun
14-07-2025
- Business
- Toronto Sun
Hudson's Bay fights lender that wants Ruby Liu deal terminated: court docs
Published Jul 14, 2025 • 1 minute read A Hudson's Bay Co. store stands in downtown Vancouver, British Columbia, Canada, on Wednesday, Jan. 11, 2017. Photo by Ben Nelms / Bloomberg TORONTO — Hudson's Bay is firing back at one of its biggest lenders. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account A new court filing from the defunct department store's chief financial officer pushes back on accusations it mishandled its liquidation and is hopelessly pursuing a deal to sell 25 of its leases. Michael Culhane says it's neither fair nor credible for Hilco to criticize the Bay for matters that were foreseeable, inevitable or caused by the investment company itself, which has a subsidiary that served as the Bay's lead liquidator. Hilco and its affiliate, lender Restore Capital, have accused the Bay of bungling the retailer's liquidation by failing to close stores properly and remove fixtures and equipment. They also say the Bay is frittering away their collateral by pushing a deal to sell about two dozen leases to B.C. billionaire Ruby Liu, who landlords do not want to move in. They want the deal, which still needs landlord approval, terminated but the Bay maintains it should move ahead because it will recoup significant cash for its lenders and other creditors. This report by The Canadian Press was first published July 14, 2025. Columnists Letters Uncategorized Golf Editorial Cartoons
Yahoo
14-07-2025
- Business
- Yahoo
Hudson's Bay fights lender that wants Ruby Liu deal terminated: court docs
TORONTO — Hudson's Bay is firing back at one of its biggest lenders. A new court filing from the defunct department store's chief financial officer pushes back on accusations it mishandled its liquidation and is hopelessly pursuing a deal to sell 25 of its leases. Michael Culhane says it's neither fair nor credible for Hilco to criticize the Bay for matters that were foreseeable, inevitable or caused by the investment company itself, which has a subsidiary that served as the Bay's lead liquidator. Hilco and its affiliate, lender Restore Capital, have accused the Bay of bungling the retailer's liquidation by failing to close stores properly and remove fixtures and equipment. They also say the Bay is frittering away their collateral by pushing a deal to sell about two dozen leases to B.C. billionaire Ruby Liu, who landlords do not want to move in. They want the deal, which still needs landlord approval, terminated but the Bay maintains it should move ahead because it will recoup significant cash for its lenders and other creditors. This report by The Canadian Press was first published July 14, 2025. Tara Deschamps, The Canadian Press
