Stains on a the side of where the now bankrupt Hudson’s Bay signage once adorned the stores location on Bloor Street at Yonge Street in Toronto on June 5, 2025. Photo by Peter J. Thompson/National Post

Many of the leases that Hudson’s Bay wanted to transfer to B.C.-based billionaire Ruby Liu for $69.1 million are now being returned to their landlords after an Ontario court rejected the retailer’s bid last week, people familiar with the matter say.

These landlords now face the challenge of filling up thousands of square feet worth of empty spaces across the country.

Toronto-based Primaris Real Estate Investment Trust, for instance, will be able to take control over five out of the 25 leases that the Bay wanted to sell to Liu toward the end of November, its chief executive, Alex Ave

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