Hudson’s Bay landlords to get back properties B.C. billionaire wanted: retailer

A Hudson Bay Company store in Toronto is shown on Monday, January 27, 2014. THE CANADIAN PRESS/Nathan Denette

By Tara Deschamps, The Canadian Press

Posted November 3, 2025 11:24 am.

Last Updated November 3, 2025 1:46 pm.

The former Hudson’s Bay locations wanted by a B.C. billionaire are being returned to landlords instead.

Franco Perugini, HBC’s senior vice-president of real estate and legal, says in an email to The Canadian Press that the collapsed retailer is disclaiming the leases for the 25 properties Ruby Liu coveted.

A disclaimer is a legal mechanism that ends a lease before its expiration and thus, releases the tenant from any obligations like paying rent or maintaining the property.

As long as no landlord objects to the disclaimer, Perugini says the HBC leases will be terminated Nov. 27.

HBC moved out of its 80 stores and 16 more under its sister Saks banner over the summer after filing for creditor protection.

Liu tried to buy 25 of the leases for $69.1 million but a judge blocked the sale last month. The judge agreed with landlords that Liu was unfit to move in and run a new department store in their properties.

Submit a Correction

Accessibility Feedback

Top Stories

RCMP, CFIA confirm cull of B.C. ostrich farm complete

The B.C. RCMP has confirmed its officers were present Thursday during the long-anticipated cull of hundreds of ostriches on a farm in Edgewood.

updated

2h ago

Liberal government survives second confidence vote amid Conservative caucus turmoil

The Conservatives helped the minority Liberal government survive a second confidence vote on the budget this afternoon. The House of Commons recorded a vote of 307 against a Bloc Québécois motion...

1h ago

26 measles cases reported in B.C. in 1 week

Recorded measles cases in B.C. spiked once again in the past week.

1h ago

Woman dies in Mission house fire

Mission Fire Rescue Service (MFRS) says it was called to a structure fire that claimed one life on Shaw Street Thursday morning.

updated

4h ago

Top Stories

RCMP, CFIA confirm cull of B.C. ostrich farm complete

The B.C. RCMP has confirmed its officers were present Thursday during the long-anticipated cull of hundreds of ostriches on a farm in Edgewood.

updated

2h ago

Liberal government survives second confidence vote amid Conservative caucus turmoil

The Conservatives helped the minority Liberal government survive a second confidence vote on the budget this afternoon. The House of Commons recorded a vote of 307 against a Bloc Québécois motion...

1h ago

26 measles cases reported in B.C. in 1 week

Recorded measles cases in B.C. spiked once again in the past week.

1h ago

Woman dies in Mission house fire

Mission Fire Rescue Service (MFRS) says it was called to a structure fire that claimed one life on Shaw Street Thursday morning.

updated

4h ago

Most Watched Today

1:38

Shooting near Metrotown leaves one man dead

One man is dead after a shooting in Burnaby Wednesday evening. The Integrated Homicide Investigation Team has released the victim's identity in an effort to advance the investigation. Monika Gul has more.

21h ago

2:17

Vancouver baker wins Netflix's 'is it cake?'

A Vancouver woman is celebrating being named the Queen of Cakes. It was after her awe-inspiring creations ended up stumping the judges on the hit Netflix baking show ‘Is it Cake?’ Kurt Black has her story.

1:43

More than 12,000 litres of fuel spilled after Kamloops train derailment

Clean-up efforts are still underway after a train derailment near Kamloops caused about 12,700 litres of jet fuel to spill into the environment. Cecilia Hua reports from the Interior.

2:04

VPD to get extra $17 million for 2025 budget

Vancouver City Council gave the Vancouver Police Department an extra $17 million for this year after it went over budget. Monika Gul has more.

2:58

New tradition of remembrance emerging alongside classic poppy

Vibrant, handcrafted beaded poppies offer a powerful and personal way to show support for all veterans while acknowledging the unique contributions and losses of Indigenous, Metis and Inuit service members.