TORONTO — Hudson’s Bay is set to shave off a sliver of its debt after getting court approval for two lease deals, but is still gearing up for a fight on a third lease agreement later this month.

Ontario Superior Court judge Peter Osborne gave the collapsed retailer permission Thursday to sell six of its leases.

Five will be bought for $5.03 million by YM Inc., which owns a slew of mall brands including Bluenotes, Urban Planet, Suzy Shier and West 49.

The leases were held by Saks Off Fifth, a discount retailer run by the Saks Canada chain, until the Bay closed its 80 stores and all 16 under the Saks banners in the country earlier this year.

The leases cover stores at Vaughan Mills in Vaughan, Ont., Tanger Outlet in Kanata, Ont., Outlet Collection in Winnipeg, CrossIron Mills in Rocky Vi

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