Hudson’s Bay hopes to sell up to 28 leases to B.C. mall owner [Video]

Hudson’s Bay plans to sell up to 28 of its store leases to a B.C. mall owner who wants to launch “a new modern department store.”

Canada’s oldest company said Friday it will seek court permission for Ruby Liu to take over a group of properties the department store and its sister Saks businesses leased in Alberta, B.C. and Ontario.

The company, which filed for creditor protection in March and is in the process of liquidating all of its stores, did not say how much money Liu has offered for the properties, nor did it name all of the specific locations involved.

However, it said three of the leases she wants are for properties in the B.C. malls she owns.

Leases in prime shopping spots

Hudson’s Bay and Saks lease 96 sites in some of the country’s most desirable and high-traffic shopping districts. Many of the properties are enormous spaces, collectively spanning hundreds of thousands of square feet.

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