HBC cancels sale of 25 store leases to Ruby Liu after court rules she’s unfit to manage them.

Hudson’s Bay Company is ending its attempt to sell 25 former store leases to B.C. billionaire Ruby Liu, following a court ruling that found her unfit to meet lease obligations despite her $69.1 million offer and promises to invest in renovations and staffing. The company, undergoing liquidation with over $1.1 billion in debts, will disclaim the leases by November 27, releasing itself from future rent and maintenance duties. Landlords including Cadillac Fairview, Oxford Properties, and Ivanhoé Cambridge opposed the sale, citing concerns over Liu’s business plan and inexperience. Oxford Properties, representing Ontario’s municipal pension fund, welcomed the decision as bringing closure to a costly legal battle and protecting assets vital to pensioners and employees. HBC has not appealed the ruling.