The Financial Post reports in its Tuesday, July 22, edition that Vancouver billionaire Ruby Liu held a job fair in Toronto for former Hudson's Bay employees as she prepares to open new stores after acquiring the Bay's leases. The Post's Naimul Karim writes that Ms. Liu, however, has not yet received court approval for the takeover of 25 leases and needs to address landlords' concerns and submit a proper business plan. This month, one of Hudson's Bay's senior lenders filed a motion to terminate the deal, citing financial losses due to the delay.
However, none of these factors seemed to discourage Ms. Liu on Saturday, who danced with applicants, walked around with a selfie stick to take photos and promote the event on social media and even briefly paused her recruiting to sing the national anthem. Ms. Liu said, "I am confident that we are going to get the stores, so we are preparing for that." The retailer filed for bankruptcy protection in March. Aside from monetizing its leases, the Bay also fired all its employees, sold intellectual property rights to Canadian Tire and is looking to auction its valuable artifacts.
Each of those steps, including Ms. Liu's deal, needs to be approved by an Ontario court.
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