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Ontario Hudson's Bay locations that were to remain open might have to close

An Ontario judge's recent decision has raised doubts over the fate of Hudson's Bay stores in the province, including those that were set to remain open, and increases the chance that lenders might seek to push the company into receivership.Justice Peter Osborne of the Superior Court of Justice has rejected a restructuring agreement proposed by the department store’s major lenders, signaling the potential for even further financial turmoil.On Saturday, Justice Osborne issued a written ruling stating that the proposed restructuring plan was "neither necessary nor appropriate at this time." The plan had been put forward in an effort to maximize liquidation proceeds and recover some of the millions owed to Hudson's Bay's senior lenders — Bank of America, Pathlight Capital, and Restore Capital — while also providing room for the company to restructure.During a Thursday hearing, lawyers for landlords opposed the restructuring agreement that was initiated by the...


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