Hudson's Bay Reaches Lease Deals Across Canada Amid Creditor Protection Filing

Hudson's Bay Co. has reached lease deals with YM Inc. and Ivanhoe Realties Inc. for six store locations in Canada. YM Inc. purchased five leases for $5.03-million, while Ivanhoe Realties Inc. acquired a lease at Metrotown in Burnaby, B.C. for $20,000. The deals come as Hudson's Bay continues to sell its leases after filing for creditor protection and closing its 80 stores and 16 Saks locations.

Hudson's Bay Co. has successfully reached lease agreements with YM Inc. and Ivanhoe Realties Inc. for six store locations in Canada. YM Inc., a clothing retailer that owns brands such as Urban Planet, Bluenotes, West49, and Suzy Shier, purchased five leases for $5.03 million. Meanwhile, Ivanhoe Realties Inc. acquired a lease at Metrotown in Burnaby, B.C., for $20,000.

These deals come as Hudson's Bay continues to sell its leases following its filing for creditor protection and the closure of its 80 stores and 16 Saks locations. The company has been seeking to recoup funds for its lenders and creditors, who are owed approximately $1 billion collectively. The lease sales are part of Hudson's Bay's broader strategy to maximize returns to stakeholders.

The five leases acquired by YM Inc. include Vaughan Mills in Vaughan, Ont., Tanger Outlet in Kanata, Ont., Outlet Collection in Winnipeg, CrossIron Mills in Rocky View, Alta., and Toronto Premium Outlets in Halton Hills, Ont. YM Inc. was unable to secure landlord approvals for three other locations, including Pickering Town Center in Pickering, Ont., Skyview Power Centre in Edmonton, and Midtown Plaza in Saskatoon.

Ivanhoe Realties Inc. acquired a lease at Metrotown in Burnaby, B.C., for $20,000. This lease is owned by Ivanhoe Cambridge, the parent company of Ivanhoe Realties Inc. The deals, which require court approval before any leases can be transferred, represent Hudson's Bay's latest attempt to recoup funds.

Hudson's Bay had initially put its leases up for sale earlier this year. The company is also seeking an extension of its creditor protection from the July 31 deadline to Oct. 31 to complete various efforts aimed at maximizing returns to stakeholders. These efforts include closing the YM and IC transactions, seeking approval of the Liu deal, and conducting an auction of art holdings.

[1] https://www.coastreporter.net/the-mix/more-lease-deals-reached-for-hudsons-bay-locations-10993360
[2] https://www.bnnbloomberg.ca/business/company-news/2025/07/25/more-lease-deals-reached-for-hudsons-bay-locations/