The CBC article linked does give a pretty good appraisal, but for most Canadians, like you 'n me, I don't think we need to be cheering for anyone in this fight. HBC is gone and is trying to recoup $ selling leases to pay off debts, the landlords want higher rents & Ruby Liu wants cheap rents. 1/2
The experts involved seem to think Ruby Liu's deal is poorly organized, under-financed and so will probably crash & burn if given the court's green light. The landlords want to skip her & lease to new tenants for more $, if any can be found for the old HBC spaces. The rest of us are just watching.
Maybe New Zellers will take up some of those spaces?
That could happen, but only if Lui is "out" or at least does not get all of them. Of course if she does get them all and fails, you may still get a Zellers back, just a year or two later. It is also possible that, either way, they may sit empty. It's not like Target will take them!