Toronto – Hudson’s Gulf is going back to court with the hope of selling its leases more and obtaining approval from creditors to expand its recurrence.
The collapse retailer is expected to use the appearance on Thursday morning to ask the Ontario Superior Court to ask the clothing company YM Ink to sell five pattas and an Ivano Realty Inc.
YM Inc. Mall brands, including Blueinots, Urban Planet, Suzy Sheer and West 49, own a sleeve.
It wants to pay $ 5.03 million to handle assets to the Bay and her sister Sachs business held at von mills in von, Onts. Kanata, ONTS Tanger outlets., Rocky View, Outlet Collection at Winnipeg in Alta, Holton Hills, Toronto premium outlets in Onts.
YM has not said which brand of it will run in each site, but the Gulf said in a court filing last week that the landlords of all five properties have given their blessings to the potential new tenant.
However, YM had great ambitions, when it signed a deal with the Gulf on 28 May. It originally wanted to buy leases for $ 1 million at Pikiring, Onts, Skyview Power Center at Admonton, and Midtown Plaza in Saskatoon, but landlord waves were not safe for those properties at the Pickering Town Center.
Apart from YM transactions, the Gulf will also say to the court on Thursday to allow it to move forward with another deal, which hit the Ivano Realty Ink for $ 20,000, to sell its lease in Metrotown in Bernbai, BC. Ivanho Cambridge, the original company of Ivanho Realty, owns the mall and thus, is not facing the transaction opposition.
The two deals were the result of a procedure, which saw that the Gulf kept its leases for sale. A dozen dialects came for a collective 39 properties.
Ivanaho’s dialect was initially not accepted due to its low price, the Gulf said in court documents. However, the conversation eventually helped the parties enter an agreement.
The retailer is expected to use the remaining hearing to push his creditor protection to extend to 31 October.
The company, which shut down all its stores earlier this year, says that the extension will give more time to prepare its art and artworks for the auction and get approval to BC billionaire Ruby Liu 25 more leases.
Liu already bought three leases in the BC Mall, but she wants more than two dozen. She has said that she will use sites to open a new department store in her name. It will have three levels – major, premium and standard.
Liu is making a budget of $ 375 million for efforts and says $ 120 million will be spent on “overdated” repair of roofs, HVAC systems, washrooms, lifts and escalators. She also says that $ 135 million will be spent on initial inventory. She projects that her plan will generate at least 1,800 new jobs and by 2027, the annual sales will generate more than $ 420 million.
The landlords have opposed her to move forward and criticized her for not providing enough information about the business that she intends to open in her assets.
One of the major lenders of the Gulf, restore the capital, and its original company Hilco Global has also fought the 25-lease deal of Liu, saying that every month, saying that the transaction is unpassited, their cost is increased and lost money is likely to be cured.
A judge has given a series of August deadline to all parties in the Bay case to produce documents and file movements, allowing the court to listen to the argument to achieve leases at the end of next month.
This report of Canadian Press was first published on 31 July 2025.
Tara Deschamps, Canadian Press