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Hudson’s Bay Battles Lender Over Ruby Liu Lease Deal in Ontario Court

Hudson’s Bay Co. is pushing back against a motion filed by its senior lender, Restore Capital LLC, which seeks to terminate a controversial lease sale to billionaire Ruby Liu. The retailer has asked the Ontario Superior Court to dismiss the motion, arguing that the deal represents its best chance to recover funds for creditors amid its ongoing liquidation. The dispute centers on Hudson’s Bay’s plan to sell up to 28 store leases—25 of which remain pending court and landlord approval—to Liu’s company, Central Walk. While three leases have already been approved for $6 million, Restore claims the remaining transaction is draining resources, citing over $18 million in rent and professional fees with no clear path to completion. Hudson’s Bay CFO Michael Culhane defended the deal, stating that Restore was fully aware of the risks and had previously supported the transaction. He emphasized that Liu has already made a $9.4 million deposit and that the sale could generate significant recoveries ...
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Sun, Sand, and Sticker Shock: Spain’s Beaches Slip Away from Locals

As Spain basks in summer sunshine, its famed coastlines—from Costa del Sol to Ibiza—are witnessing a surge in foreign tourism that’s reshaping the experience for locals. Soaring travel demand has driven up prices for accommodation, food, and transport, with beachfront amenities increasingly tailored to international visitors. Many Spaniards now find their once-frequented beaches crowded and costly, turning instead to lesser-known inland destinations or limiting their holiday plans altogether.

Tourism, a cornerstone of the Spanish economy, accounts for a significant portion of employment and GDP. Yet the influx of vacationers from abroad has sparked a growing debate over sustainability and access. Locals lament the shift, saying the charm and accessibility of their native shores are slowly eroding under the weight of commercialization and inflated costs.

Authorities in some regions are considering new measures to balance tourism and community needs—such as promoting off-season travel and boosting infrastructure in under-visited areas. But for now, many Spaniards feel that the coastal paradise they once called their own is slipping just out of reach.







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