The main Hudson’s Bay store in Toronto is shown in this photo taken on January 27, 2014. (Photo credit: Nathan Denette / The Canadian Press)
Ruby Liu, a billionaire entrepreneur from British Columbia, just secured the green light to take over three former Hudson’s Bay store spaces in B.C. malls she already owns. Stepping out of a Toronto courtroom, Liu celebrated the win with a fist pump, confident in her plans to reinvent retail under her own name.
An Ontario judge approved her $6 million purchase of leases at Tsawwassen Mills, Mayfair Shopping Centre, and Woodgrove Centre. Liu intends to turn them into “Ruby Liu” department stores — vibrant, multi-use spaces offering beauty products, fashion, jewellery, family play zones, dining spots, and entertainment areas.
She envisions a chain of at least 28 stores across Canada. But the road ahead isn’t smooth.
Growing Pushback from Landlords
Liu’s dream is already facing resistance. Landlords connected to 23 out of the 25 remaining store leases she wants to buy aren’t on board. Legal filings indicate that these spaces are located in malls across Alberta, British Columbia, and Ontario. In fact, Cadillac Fairview’s lawyer told the court that none of the 25 landlords are supportive.
Their main concern? They’ve seen little of Liu’s business plan. There’s been little communication, and landlords like Oxford Properties and Primaris have echoed frustrations over the lack of transparency.
Calling the whole process “very troubled,” lawyers warned that issues will intensify if Liu is handed more leases without addressing these gaps.
Liu Stays Undeterred
Despite the legal tension, Liu remained upbeat throughout the proceedings. Dressed in a bold floral shirt and designer accessories, she posed confidently for photos and chatted with reporters, even hinting at a potential move to Toronto.
She brushed aside landlord concerns, saying, “A lot of landlords are supporting me.” If given court approval for the remaining leases, she promises to work closely with property owners to bring her vision to life.
Why This Matters for Hudson’s Bay
Hudson’s Bay, Canada’s oldest department store, has been under creditor protection since March. The company was hoping for a buyer who could revive some part of its legacy. By June 1, all Bay and Saks stores had shuttered, and the leases were up for grabs.
Liu won the three approved leases because her offer was judged to be the best, in both value and conditions. Her lawyer told the court she’s investing significantly — not just money, but energy and purpose.
“She’s betting on herself,” the lawyer said.
A Pricey Passion Project
Liu is prepared to invest over $30 million in renovating her three newly acquired spaces. If she wins all 28 leases she wants, the total investment could reach $100 million. She’s already deposited $9.4 million toward the larger package.
Rather than a short-term business plan, Liu sees this as a full-circle moment. It’s her way of giving back to a country that became her new home.
A New Retail Vision
In a heartfelt public letter, Liu said her plan isn’t about chasing profit. It’s about creating real-world places where people can gather again — a return to meaningful community interaction.
She admitted some of her family members worry she’s risking everything. But for her, it’s not a gamble — it’s a chance to reshape retail in a way that matters.
She had also bid to buy the Hudson’s Bay name and trademarks, but later stepped away when it became clear that Canadian Tire would outbid her. That deal was sealed for $30 million. As a result, the court has ruled that Liu’s stores can’t use the Hudson’s Bay or HBC name, a standard step to prevent brand confusion.
