TORONTO — Hudson's Bay landlords were back in court Friday, where they argued a B.C. billionaire doesn't have the cash needed to launch a new retailer.
Ruby Liu wants to buy 25 Bay leases for $69.1 million to open a new department store named after herself. Court has already approved a separate purchase of three Bay leases in malls she owns for a total $6 million.
However, prominent landlords, including Cadillac Fairview, Oxford Propeties and Ivanhoé Cambridge, vehemently oppose the larger sale and for a second day in a row were in court Friday asking a judge not to force them to accept Liu as a tenant.
The landlords say they shouldn't have to let Liu move in because she has neither the experience nor the team needed to launch a new venture of the scale she desires. They also say her bu