Canada’s Hudson’s Bay Company (HBC) has reached a deal to sell up to 28 leases in Ontario, Alberta, and British Columbia to Ruby Liu Commercial Investment Corp, controlled by Chinese billionaire Ruby Liu. Liu plans to introduce a new modern department store concept in Canada. However, since the Hudson’s Bay intellectual property has been acquired by other companies, she cannot operate under the Hudson’s Bay brand unless a separate agreement is reached. Liu stated her stores will prioritize hiring former HBC employees and working with HBC’s past suppliers. The agreement remains subject to court and property owner approval. HBC filed for creditor protection in March, citing over $1.1 billion in debt.