A new court filing shows a process meant to find a new owner for Hudson’s Bay and its assets has yielded 17 bids.
A report from a court monitor guiding Canada’s oldest company through creditor protection does not name the bidders but says they made offers after the monitor reached out to 407 potential buyers.
Fifty-four of the 407 signed a non-disclosure agreement to get access to Bay data to decide whether to place a binding bid, but less than half wound up making a formal offer.
The court document says the company and those involved in selecting a winner are now evaluating the offers and having discussions with those who made bids.
B.C. mall owner Weihong Liu and Toronto investment manager Urbana Corp. have both gone public with their bids. Two sources familiar with the sales process, who were unauthorized to speak on the matter, have said Canadian Tire is also in the mix, but the retailer has not confirmed whether it made an offer.
Hudson’s Bay must seek court approval for any deals they reach by May 30.
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