Here is what’s happening with some Hudson’s Bay Company stores in Ontario [Video]

Plans are underway to transform some Hudson’s Bay Company stores in Ontario into a new department store concept.

Ruby Liu Commercial Investment Corp., a corporation indirectly controlled by B.C. mall owner and billionaire Ruby Liu, plans to take over the leases of 28 Hudson’s Bay Company stores in Ontario, British Colombia and Alberta.

Hudson’s Bay Company announced it has entered an agreement with Ruby Liu Commercial Investment Corp. as part of its ongoing restructuring as it “is in the best interests of the Company and its stakeholders.”

A Bay spokesperson declined to provide the specific locations of the 28 stores.

The Bay filed for creditor protection on March 7 and later announced all stores would close. Liquidation sales started later in March and are expected to continue until the end of May.

The concept for the 28 stores that Ruby Liu Commercial Investment Corp. will take over is “a new modern department store concept in Canada,” according to the press release from The Bay.

New stores …