Latest news with #jobfair
CBC
a day ago
- Business
- CBC
Billionaire Ruby Liu holds job fair for future stores
Ruby Liu — the B.C.-based billionaire trying to take over former Hudson's Bay locations to create her own department store — held a job fair in Toronto over the weekend, even though she doesn't currently have access to any stores in Ontario.
CBC
2 days ago
- Business
- CBC
B.C. billionaire hosts job fair in Toronto amid bid for Hudson's Bay leases
Social Sharing A British Columbia billionaire seeking to acquire dozens of former Hudson's Bay leases held a job fair in Toronto this weekend to attract people to work at the properties— despite not yet leasing the retail spaces in the city. Ruby Liu signed deals with Hudson's Bay in May to buy up to 28 leases across Canada belonging to the defunct retailer and its sister banner Saks. So far, only three leases have been transferred. Liu hosted the job fair at the Intercontinental Hotel on Saturday, drawing workers, vendors and former Hudson's Bay employees, who were hopeful and uncertain about the future of the store. "If she pulls this off, she will be a Canadian hero," said Sandi Kveton, who worked at Hudson's Bay for 27 years. "We're hopeful that she can get the leases. She's still fighting in court, so we really don't know if we have jobs or not." The three spaces in B.C. were transferred to Liu last month after receiving court approval. The Bay has yet to seek that assent for up to 25 more in properties held by other landlords, who are overwhelmingly opposed to Liu moving in because they say she's yet to provide detailed business plans. An Ontario judge adjourned a court hearing last Tuesday initiated by a creditor of Hudson's Bay seeking to terminate Liu's purchase agreement. The judge urged Liu, who is now parting ways with two law firms, to hire a lawyer to represent her and her plans to buy the leases. WATCH | Who is Ruby Liu?: Who is Hudson's Bay benefactor and billionaire Ruby Liu? 25 days ago Ruby Liu, a billionaire with a big vision, now has legal permission to take over the leases of three former Hudson's Bay department stores located at three malls already under her ownership. For more on the new Bay benefactor, we're joined by retail analyst Carl Boutet. Speaking through her CEO and translator, Linda Qin, Liu expressed optimism about the outcome of the hearing. "She's very confident that we are going to get the stores," said Qin on Saturday. "We want to prepare for the store openings." "It's very obvious that Ruby Liu is a qualified bidder." Plan faces pushback A Toronto lawyer said the different Bay creditors are still unsure if this is in the best interest of their financial situation. "It's a disagreement about whether or not the information that's been provided so far offers enough comfort as it relates to whether or not this is in the best interest of the different creditor groups," said Sherena Hussain, lawyer and founder of Academic Collaboration Consulting. "In many cases, they're looking to recover cents on the dollar." Liu has budgeted $84 million to transform former Bay spaces into Asian-style department stores offering shopping, dining, and entertainment. She plans to use the properties to open a department store named after herself. WATCH | B.C. billionaire Ruby Liu shares her vision for former Hudson's Bay locations: B.C. billionaire Ruby Liu shares her vision for former Hudson's Bay locations 13 days ago B.C. billionaire Ruby Liu is hoping to expand her mall empire by taking over 28 former Hudson's Bay retail space leases. She joined CBC's Gloria Macarenko with a translator to share her vision for the department stores, in her first interview with English-language media in Canada. A vendor attending Liu's fair on Saturday said he believes in her vision and that this is the change Canada needs. "She actually came here to invest her own money and revitalize the retail businesses, which is a positive thing for Canadian industry," said Jay Lim, the CEO of K-Beauty Canada. But retail expert Jim Danahy said this could be a challenge for Liu. "These are big square boxes without windows and not easily redeveloped," said Danahy, who's the CEO of CustomerLab. "She's got some experience renting retail space, not operating retail space." Many landlords also said in court that they think Liu doesn't have the suppliers, financing, or retail management experience to run a department store.
Yahoo
2 days ago
- Business
- Yahoo
‘I can feel their enthusiasm': Billionaire Ruby Liu holds job fair to bolster bid to take over HBC leases
Vancouver-based billionaire Ruby Liu was welcomed by dozens of former Hudson's Bay employees at a job fair in Toronto on Saturday, as her organization staged a recruitment event for new stores she plans to open up after taking over the Bay's leases. Liu has not received court approval to take over 25 of the Bay's leases as per a deal inked in May, and has yet to satisfy the demands of some of the landlords who have raised concerns about her takeover and want her to submit a proper business plan. One of Hudson's Bay senior lenders filed a motion this month to terminate the deal with Liu, arguing that the delay is costing the company money. But none of these factors seemed to discourage Liu on Saturday, who danced with applicants, walked around with a selfie stick to take photos and promote the event on social media and even briefly paused her recruiting to sing the national anthem. 'I am confident that we are going to get the stores, so we are preparing for that,' Liu, whose statement was translated, told reporters at the event. 'We have received almost a thousand resumés online. I wanted to meet these candidates in person. I can feel their enthusiasm.' Liu agreed to take over the leases for 28 of 96 Hudson's Bay stores, all of which were shut down last month as Canada's oldest retailer, which filed for bankruptcy protection under the Companies' Creditors Arrangement Act in March, looks to pay back millions of dollars to its creditors. Aside from monetizing its leases, the Bay also fired all its employees, sold intellectual property rights to Canadian Tire and is looking to auction its valuable artifacts. Each of those steps, including Liu's deal, needs to be approved by an Ontario court. Last week, an Ontario court was supposed to make a decision on whether or not HBC should cancel Liu's agreement, but that hearing had to be postponed, mostly because Liu arrived at court without a lawyer. Liu said that her previous legal counsel had quit on Sunday afternoon, ahead of the hearing, which took place on Tuesday. 'Our previous legal counsel didn't help us submit the business plan to the landlords and some materials we hoped to submit,' she said. 'We are very disappointed.' But things have changed since then, said Liu, who hired a new lawyer and hopes to go to court in mid-August. 'We want to meet with the landlords more and more,' she said. 'It was not arranged in the past as we wished and we hope that will be happening.' Liu said that she is willing to 'share the profits' with landlords from her flagship stores, which are going to be 'fun and exciting,' she said during a speech at the event. The stores will dedicate about 30,000 square feet for a kids' play area, Liu said, and 'flagship' stores are also likely to have Asian supermarkets and an Asian fusion dining area. She also plans to have seven to eight 'platinum stores' that will focus on an 'immersive shopping experience' to attract younger shoppers. Liu said that she took out '$300 million from her own pocket' to build the stores and aims to spend $10 million in marketing every year. Liu attributed the Bay's demise at least in part to a lack of marketing and an inability to attract younger customers. 'In two or three years, you will see new Ruby Liu stores in Canada,' she said. 'If we are successful, in five years we are going to go to other countries in North America and the rest of the world. We are planning to build 30 stores worldwide if we are successful.' About 200 people attended Saturday's event and Liu said she planned to submit documents collected from potential vendors and applicants when she returns to court in August, as evidence of the viability of her plans. While the event was open to the public, the majority of the applicants were former HBC employees. Liu said she would give preference to them. Hudson's Bay fights back against lender that wants to terminate lease sales to Ruby Liu Court decision on sale of 25 Hudson's Bay leases delayed as buyer appears without a lawyer
CTV News
6 days ago
- General
- CTV News
County of Simcoe hosts job fair to fill multiple positions
County of Simcoe Administration Building sign on Highway 26 in Midhurst, Ont. The County of Simcoe is hosting a job fair on Thursday to fill multiple positions across the county. Job seekers are encouraged to bring their resumes and be prepared to speak directly with hiring managers looking to fill positions in various communities. Positions include personal support workers, registered practical nurses, seasonal labourers, housekeeping and dietary services, multi-service support staff and other roles within the county. On-the-spot interviews are possible. The job fair will take place July 17 from 9 a.m. to 3 p.m. at the County of Simcoe Administration Centre at 1110 Highway 26 in Midhurst. A list of current openings is available online.
Forbes
14-07-2025
- Business
- Forbes
Searching For The Real Unemployment Rate, Not Just The Official One
Signage at the New York Public Library's annual Bronx Job Fair & Expo at the Bronx Library Center in ... More the Bronx borough of New York, US, on Friday, Sept. 6, 2024. US hiring fell short of forecasts in August after July's payroll number was revised down, a development likely to fuel ongoing debate over how much the Federal Reserve should cut interest rates. Photographer: Yuki Iwamura/Bloomberg Last month we looked at 10 college degrees that see high unemployment, and the problem isn't basketweaving. A number of affected majors are so-called STEM, or science, technology, engineering, and mathematics, degrees that are supposed to hold the key to higher earnings and a place in the top economic quarter. Physics, computer engineering, computer science, chemistry, and information systems and management, all have proven themselves capable of offering a higher than average chance of not having work. Big tech companies have been laying off thousands, artificial intelligence is going to replace many workers. (It's already happening.) It will likely get worse, as recent figures have suggested. Those depending on their education may be taken by surprise; June job losses were concentrated in white collar industries. Non-white collar workers aren't necessarily at an advantage either. Major industries, including mining, quarrying, and oil and gas extraction; construction; manufacturing; wholesale trade; retail trade; transportation and warehousing; information; financial activities; professional and business services; leisure and hospitality; and other services, had flat job growth. However, there's an even more worrisome turn. At least a current focus on unemployment has had the happy consolation that unemployment rates are historically low. But are they as low as you might think? Maybe not. There are multiple unemployment numbers that the government publishes. The official one is called U-3. In June it was 4.1%. There are six different ones, and the definitions of the others help explain what might be missing in U-3. And then there are the descriptions of the additional terms, which may not be obvious. The U-3 measure clearly doesn't incorporate all the people who might want work but lack all or enough. As the categories run up, so does the unemployment rate. The U-4 in June was 4.5%; the U-5, 5.1%; and the U-6 — the most inclusive — 7.7%. Also, those numbers are seasonally adjusted, meaning officials modify the numbers in an attempt to remove 'predictable seasonal patterns' to see how unemployment changes from month to month, as the U.S. Bureau of Labor Statistics puts it. However, it means the official numbers aren't the actual ones for any given month. The non-seasonally adjusted numbers for June are 4.4% for U-3, 4.7% for U-4, 5.4% for U-5, and 8.1% for U-6. It's another way that the government doesn't admit to how challenging things can be, like how median household incomes have lagged so far behind the cost of living for the last 40 years.
