Latest news with #UrbanaCorp
CTV News
09-05-2025
- Business
- CTV News
Hudson's Bay garnered 17 bids in process to find new owner for retailer, assets: docs
Bay branded products are seen on display in the Hudson's Bay store in Toronto on Monday March 10, 2025. THE CANADIAN PRESS/Chris Young TORONTO — A new court filing shows a process meant to find a new owner for Hudson's Bay and its assets has yielded 17 bids. A report from a court monitor guiding Canada's oldest company through creditor protection does not name the bidders but says they made offers after the monitor reached out to 407 potential buyers. Fifty-four of the 407 signed a non-disclosure agreement to get access to Bay data to decide whether to place a binding bid, but less than half wound up making a formal offer. The court document says the company and those involved in selecting a winner are now evaluating the offers and having discussions with those who made bids. B.C. mall owner Weihong Liu and Toronto investment manager Urbana Corp. have both gone public with their bids. Two sources familiar with the sales process, who were unauthorized to speak on the matter, have said Canadian Tire is also in the mix, but the retailer has not confirmed whether it made an offer. Hudson's Bay must seek court approval for any deals they reach by May 30. This report by The Canadian Press was first published May 9, 2025 Tara Deschamps, The Canadian Press
Winnipeg Free Press
09-05-2025
- Business
- Winnipeg Free Press
Hudson's Bay garnered 17 bids in process to find new owner for retailer, assets: docs
TORONTO – A new court filing shows a process meant to find a new owner for Hudson's Bay and its assets has yielded 17 bids. A report from a court monitor guiding Canada's oldest company through creditor protection does not name the bidders but says they made offers after the monitor reached out to 407 potential buyers. Fifty-four of the 407 signed a non-disclosure agreement to get access to Bay data to decide whether to place a binding bid, but less than half wound up making a formal offer. The court document says the company and those involved in selecting a winner are now evaluating the offers and having discussions with those who made bids. B.C. mall owner Weihong Liu and Toronto investment manager Urbana Corp. have both gone public with their bids. Two sources familiar with the sales process, who were unauthorized to speak on the matter, have said Canadian Tire is also in the mix, but the retailer has not confirmed whether it made an offer. Hudson's Bay must seek court approval for any deals they reach by May 30. Winnipeg Jets Game Days On Winnipeg Jets game days, hockey writers Mike McIntyre and Ken Wiebe send news, notes and quotes from the morning skate, as well as injury updates and lineup decisions. Arrives a few hours prior to puck drop. This report by The Canadian Press was first published May 9, 2025. Companies in this story: (TSX:CTC.A)
